Despite Beijing Ban, Micron Invests $602-M In Chip Plant

US memory chipmaker Micron said it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in Xian City, Brenda Goh and Sarah Wu reported for Reuters.

Photo Insert: "This investment project demonstrates Micron's unwavering commitment to its China business and team," CEO Sanjay Mehrotra was quoted as saying.

The company has been targeted by China's cyberspace regulator, which last month said the firm, the US' biggest memory chipmaker, had failed a network security review and that the regulator would block operators of key infrastructure from buying from the company.

"This investment project demonstrates Micron's unwavering commitment to its China business and team," it quoted CEO Sanjay Mehrotra as saying.

The investment will include buying packaging equipment from a Xian-based subsidiary of Taiwan's Powertech Technology Inc, which Micron has been using in the factory since 2016, the company said.

Micron will also open a new production line at the site to manufacture mobile DRAM, NAND and SSD products to strengthen the plant's packaging and testing capabilities.

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