Simmtech, Gujarat Government Sign MoU, Total Investment Pegged At Over Rs 1,250 Crore

Simmtech, a South Korean PCB manufacturer, to invest over Rs 1,250 crore in Gujarat, supporting Micron's semiconductor plant under a new MoU
 Semiconductor Industry
Semiconductor Industry

South Korea-based Simmtech, which manufactures high-layer printed circuit boards for semiconductors, has signed a memorandum of understanding (MoU) with the Gujarat Government to invest over Rs 1,250 core in the state. The company will set up operations to support Micron's semiconductor plant in Gujarat.

The MoU was exchanged in the presence of Union Minister of IT and Electronics Ashwini Vaishnaw and Gujarat Chief Minister Bhupendra Patel. At the inaugural session held on Wednesday, Simmtech CEO Jeffery Chun had announced that the company is ready to invest in India. The new investment is expected to create over 1,000 direct and indirect job opportunities in the state.

While addressing the session on Semiconductors and Electronics on Thursday, Union Minister Ashwini Vaishnaw thanked Micron for paving the way for the development of the semiconductor ecosystem in India. He also congratulated the Gujarat Government for starting the work on Micron's plant at a rapid pace. "Within three months of signing the MoU last year, the construction work on the plant started which has given us the pride and confidence in our execution capabilities."

The Union Minister added that Micron's investment is going to pave the way for the development of the semiconductor ecosystem in India.

In addition to the MoU between Gujarat and Simmtech, Micron also signed an MoU with NamTech to develop talent for its semiconductor operations in India. The US-based firm has already hired over 200 employees for its plant in India which will begin operations by the first half of 2025.

Related Stories

No stories found.
Outlook Business & Money