Micron strikes biggest SEZ lease deal in Hyderabad, picks up 1M sft

[hyperbole]

Hyderabad: American IT major Micron Technology picked up 1.03 million square feet (10.3 lakh sft) of space at Phoenix’s Tech Zone in Nanakramguda, making it the single largest leasing deal among Telangana’s SEZs

 The lease application was approved on Tuesday, confirmed A Ram Mohan Reddy, zonal development commissioner of Visakhapatnam SEZ (VSEZ) which comprises AP, Telangana and Chhattisgarh.

He said the firm would soon occupy 14 floors in the newly constructed SEZ. “Beginning February 28, 2020, Micron will operate from a temporary incubation space measuring 91,625 sft in the SEZ. Once the permanent office is ready, the operations will move there,” Reddy said. “Micron’s projected investment for the next five years is Rs 3,820 crore, with exports of up to Rs 6,228 crore. The company has also assured employment to 5,000 people – 3,500 men and 1,500 women – over the next five years.” Industry sources said the leasing agreement between Micron and Phoenix was brokered by global real estate services firm Cushman & Wakefield.

Jayesh Ranjan, the state’s IT secretary, said: “They (Micron) had conveyed their intention to expand in Hyderabad significantly on the day of their inaugural. I am happy that the ramp up has happened much faster than expected.” Micron Technology, which made its first stop in India at Bengaluru, entered Hyderabad in 2019 and set up its Global Development Centre in Madhapur. The centre was officially inaugurated in October last year.

Headquartered in Boise (Idaho), Micron provides computer memory and computer data storage solutions. It has a presence across 18 countries and 37,000 team members.

[Hydrockers]

@lovemystate Inga vachi cbn daya Ani anu

[Spartan]

 The lease application was approved on Tuesday, confirmed A Ram Mohan Reddy, zonal development commissioner of Visakhapatnam SEZ (VSEZ)

 

   irony...

[lovemystate]

More tax driver jobs for langana where they can contribute to the ease of living of northes by speaking in hindi and getting laughed in the back by same northies for the riduclous hyderabadi hindi which mahmood made it as a joke in bollywood.

[hyperbole]

this is a big win guys, hyderabad was never known for semi conductor companies, bangalore is called silicon valley for a reason. Texas Instruments took off in bangalore in 1980s and since then it paved way for all of the world renouned semi conductor firms. Except for very few chip companies Hyderabad is primarily(95%) based off on IT and ITes. last month Intel setup an office and now micron, what this means is it slowly creating a talent pool to tap into it..once we hit the interia we will be able to compete for more chip and semi conductor business with the likes of Bangalore(since it is the only advantage Bangalore has got over us)

[hyperbole]

3 minutes ago, Spartan said:

 The lease application was approved on Tuesday, confirmed A Ram Mohan Reddy, zonal development commissioner of Visakhapatnam SEZ (VSEZ)

 

   irony...

SEZ in all 3 states regional director vizag lo unnadu anta.em cheddam ippudu 

[sattipandu]

3 minutes ago, Spartan said:

 The lease application was approved on Tuesday, confirmed A Ram Mohan Reddy, zonal development commissioner of Visakhapatnam SEZ (VSEZ)

 

   irony...

yeah i dindt understand , how come Vizag SEZ  cover TG?

2 minutes ago, lovemystate said:

More tax driver jobs for langana where they can contribute to the ease of living of northes by speaking in hindi and getting laughed in the back by same northies for the riduclous hyderabadi hindi which mahmood made it as a joke in bollywood.

gaddi kottesi mana bedaru vachesaadrooiiii  

[IntiMundhuchpl]

Just now, hyperbole said:

SEZ in all 3 states regional director vizag lo unnadu anta.em cheddam ippudu 

Jai cbn andham 

 

[Idassamed]

1 minute ago, hyperbole said:

this is a big win guys, hyderabad was never known for semi conductor companies, bangalore is called silicon valley for a reason. Texas Instruments took off in bangalore in 1980s and since then it paved way for all of the world renouned semi conductor firms. Except for very few chip companies Hyderabad is primarily based off on IT and ITes. last month Intel setup an office and now micron, what this means is it slowly create a talent resource pool to tap into it..once we reach the interia we compete for chip business with Bangalore

Fab city, Foundries ravali.

[Idassamed]

Just now, sattipandu said:

yeah i dindt understand , how come Vizag SEZ  cover TG?

gaddi kottesi mana bedaru vachesaadrooiiii  

Quality condemnation from our brother I say.

[GucciGang]

very good company va

[Spartan]

4 minutes ago, hyperbole said:

SEZ in all 3 states regional director vizag lo unnadu anta.em cheddam ippudu 

em seyalem..

[hyperbole]

12 minutes ago, Idassamed said:

Fab city, Foundries ravali.

avvani kani muchata.

[futureofandhra]

Assam to AP 

Good going ktr n team

[Idassamed]

Just now, futureofandhra said:

Assam to AP 

Good going ktr n team

Bro, the present situation in AP is temporary, the economy will bounce back.