— (Reuters) According to a Friday report by Bloomberg News, Micron Technology Inc. is close to committing at least $1 billion to the construction of an Indian chip packaging facility.

According to the report, Prime Minister Narendra Modi may make an announcement during his visit to the US the following week. One of the sources added that the amount of money offered may even increase to $2 billion.

A request for comment from Reuters was not immediately answered by Micron.

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