TN investment conclave in San Francisco woos Rs 900 crore investments; 4,100 jobs

CHENNAI:

In a bid to generate high-end jobs for the youth, Tamil Nadu government signed memorandum of understandings (MoUs) with six leading industries namely Nokia, PayPal, Yield Engineering Systems, Microchip Technology, Infinx Healthcare and Applied Materials with an investment of Rs.900 crore providing jobs to 4,100 people in Chennai, Coimbatore and Madurai during the investment conclave held at San Francisco on Thursday.  The MoUs were signed before Chief Minister M K Stalin, who is on a visit to San Francisco and Chicago to woo investments to the state.

 

Nokia, a Finnish multinational telecommunications, information technology and consumer electronics company, will be setting up world’s largest fixed network testing facility with a new research and development facility at Siruseri, SIPCOT at an investment of Rs 450 crore thereby generating jobs to 100 persons. The MoU was signed on behalf of Nokia by Nishant Batra, Chief Strategy and Technology Officer, and Chandy Modley, President of Fixed Network Business Group. Nokia has set up an International Distribution Centre and Manufacturing Centre in Chennai.

 

Similarly, Yield Engineering Systems Limited signed a memorandum of understanding for setting up a Product development and manufacturing facility for semiconductor equipment at Sulur, Coimbatore with an investment of Rs.150 crore generating employment to 300 persons. he MoU event was attended by Ramakant Alapathy, Chairman and Chief Executive Officer and Prabhat Mishra, Chief Financial Officer,  Yield Engineering Systems.

 

Yield Engineering Systems, a leading provider of technology solutions and process equipment for the semiconductor ecosystem, is having its headquarters in Fremont, California, in the United States. In Tamil Nadu, the Company has established an Engineering Centre at Coimbatore.

 

The state also signed a MoU with Microchip Technology, is a leading semiconductor supplier of smart, connected, and secure embedded control solutions for a wide variety of applications (5G, EVs, IOT, data centers, etc.), for setting up research and development centre in Semiconductor Technology at Chennai with an investment of Rs 250 crore generating jobs for 1500 persons.  Microchip and the Government of Tamil Nadu in the presence of the Hon'ble Chief Minister of Tamil Nadu for setting up a R&D Centre in Semiconductor Technology at Chennai with an investment of Rs.250 crore generating employment for 1500 persons.

 

The MoU event was attended by Patrick Johnson, Senior Corporate Vice President and Bruce Weyer, Corporate Vice President, Microchip Technology. Headquartered in Chandler, Arizona, Microchip has multiple manufacturing facilities in US, China, Thailand and South Korea. The company is one of the Fortune 500 companies.

 

Similarly, Infinx Healthcare, a healthcare technology company headquartered in San Jose, California, signed a memorandum of understanding to set up a Technology and Global Delivery Centre at ELCOT, Madurai with an investment of Rs 50 crore generating employment to 700 persons. The company identified the office location in July last year to set up its business in Tamil Nadu. Radhika Tandon, Chief Marketing Officer, Infinx Healthcare signed the MoU.

 

The state government also signed a MoU with Applied Materials, the world's largest semiconductor and display equipment company headquartered in Santa Clara, California, for setting up an Advanced Artificial Intelligence Enabled Technology Development Centre for semiconductor manufacturing and equipment at Taramani, Chennai with a potential employment generation to 500 persons. It is one of the Fortune 500 companies with operations in 150 cities across 24 countries worldwide. In Tamil Nadu, Applied Materials has established Sales, Service and Field Support facilities in Chennai and Service & Field Support facilities in Coimbatore.

 

The event was attended by Industries Minister T.R.B. Rajaa, state Industries secretary V. Arun Roy, Guidance Tamil Nadu managing director V Vishnu, Consul General of San Francisco Srikar Reddy  and other senior officials of the Government.