South Korean PCB maker Simmtech plans to invest $150 million to build a plant in India
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Update time : 2024-01-24 10:10:03
Micron Technology, which previously invested $2.75 billion in an ATMP plant in India, continues to attract semiconductor suppliers to the country, and South Korean PCB maker Simmtech is also planning to invest 12.5 billion Indian rupees ($150.5 million) to set up a plant in the Indian state of Gujarat.
Simmtech CEO Jeffery Chun said the company is looking forward to further supporting its customers in India and globally. This will further enable Indian domestic companies to become part of the global supply chain ecosystem, he added.
Micron is Simmtech's third largest customer after Samsung Electronics and SK Hynix. The Gujarat plant is expected to be operational by early 2025, creating 5,000 direct jobs and 15,000 indirect jobs, Micron CEO Sanjay Mehrotra said.
Micron also signed a Memorandum of Understanding (MoU) with the New Age Institute of Creative Technologies (NACT), which will see the two companies collaborate to train talent for India's semiconductor manufacturing industry.
Simmtech, which is eligible for Indian subsidies under the SPECS (Stimulus Program for Electronic Components and Semiconductor Manufacturing), has signed a memorandum of understanding (MOU) with the Gujarat government to set up a plant near Micron's Sanand facility in Gujarat, said Ashwini Vaishnav, minister of state for electronics and information technology. The state has allotted 30 acres of land for Simmtech's facility and Simmtech's factory project will start in 2-3 months and completion is expected to take 6-7 months, he added.
Analysts have observed that Korean PCB makers are diversifying into IC carrier boards, especially FCBGA products, and Simmtech is one of them. However, Simmtech is not focusing on advanced products such as FCBGA, but rather on mature products such as FCCSP to cope with competition from China.
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