While the location for setting up the high-tech electronics park is yet to be finalised, it is expected to be spread over 300 acres when it’s fully completed.
CHENNAI: IGSS venture, a Singapore-based firm, has signed a Memorandum of Understanding (MoU) with Tamil Nadu Industrial Guidance and Export Promotion Bureau on Friday to set up the State’s first semiconductor park at an investment of Rs 25,600 crore over the next five years.
The project is expected to create 25,000 jobs. The company signed the deal with the designated nodal agency for facilitating single-window approvals for industries in the presence of Chief Minister MK Stalin. Meanwhile, Industries Minister Thangam Thennarasu said an investors’ meet will be held in Chennai on July 4. While the location for setting up the high-tech electronics park is yet to be finalised, it is expected to be spread over 300 acres when it’s fully completed.
The Semiconductor High-Tech Park (HTP) consists of several units such as semiconductor circuit designers, material suppliers, equipment suppliers, and Outsourcing and Testing Semi-Conductors (OSATS) etc, and will employ 25,000 people through ecosystem partners, said an official press release. IGSS has proposed to set up a semiconductor fab under ‘Project Suria’ and applied the “scheme for setting up of semiconductor fabs in India” under India Semiconductor Mission.
Speaking to reporters, Minister Thangam Thennarasu said in the last one year, the State government has signed MoUs to the tune of Rs 94,975 crore with 132 companies to generate 2.26 lakh jobs. “As many as 78 MoUs are actively being pursued and are under different stages of approval. About 25 are in the planning stage and land acquisition is under process for 29 companies,” the minister said.
Thennarasu said the State has become a destination for high-tech companies in the field of IT and ITES services, research and development support services, artificial intelligence and several others. He said the government was in talks with 38 firms to bring investments in newly-emerging industries such as semiconductors, lithium-ion, solar photovoltaics and green hydrogen.
‘Centres being set up to improve TN youths’ skills’
The minister added that Innovation Centres in Sipcot and Centre of Excellences are being established for skill improvement training for youth under Naan Muthalvan. He also spelled out region-wise investment plans.
The government signed MoUs to the tune of Rs 6,333 crore to create 19,100 jobs in western Tamil Nadu, Rs 5,307 crore investment in the northern region (Dharmapuri and Krishnagiri) for providing jobs to 47,940 people, and Rs 285 crore investment in the central region (Tiruchy and Pudukottai) for employing 1,200 people.
About Rs 16,780 crore investment was being planned through MoUs for southern districts to create 55,000 jobs and Rs 55,997 crore investment was planned around Chennai to provide jobs to 55,330 people, he said.
On Guv’s remark
To a query on the Governor’s remarks that TN lagged behind in attracting direct investments compared with northern States, Thennarasu said data on direct industrial investment was assessed based on the location of the investor’s headquarters. “For example, Hyundai’s car manufacturing unit is located in Chennai but it’s head office is in New Delhi. Hence, the manufacturer’s investment will be shown in New Delhi.”
Rs 94,975 Cr worth MoUs signed last year with 132 companies to generate 2.26 lakh jobs: Thangam Thennarasu
