Oct 16 (Reuters) - A new underground transmission line

was approved by the New York State Public Service Commission

linking an existing Clay substation with Micron Technology's ( MU )

proposed semiconductor megafab facility in Onondaga

County, Governor Kathy Hochul announced on Thursday.

The two-mile, 345-kilovolt line is a key piece of

infrastructure for Micron's planned $100 billion investment in

Central New York, the largest private investment in the state's

history, Hochul's press release said.

The project is expected to create more than 50,000 jobs

over the next two decades, including 9,000 direct positions at

Micron.

"This project is set to transform Central New York - and

we're moving quickly ahead with all due speed and deliberation,"

Hochul said.

The transmission line approval follows a 2022 agreement

between Micron and New York State, when the chipmaker selected

the region for its advanced manufacturing facility. The megafab

aims to produce one in four of all U.S.-made semiconductors by

2030.

The commission also approved environmental and construction

plans for the first phase of the project, including the eastern

expansion of the Clay substation and installation of equipment

linking it to the Micron facility.