Chennai to Get 2 Big Semiconductor Plants: CM Stalin Signs Landmark Agreements During US Visit – News18

Last Updated: August 30, 2024, 13:25 IST

Tamil Nadu Chief Minister MK Stalin being welcomed upon his arrival in San Francisco. (PTI Photo)

At an investors’ conference held in San Francisco, CM Stalin successfully secured commitments for substantial investments in Chennai’s tech sector.

In a significant development for Tamil Nadu’s industrial landscape, agreements were signed in the United States to establish two major semiconductor facilities in Chennai, with Chief Minister MK Stalin facilitating the deals during his visit. At a high-profile investors’ conference held in San Francisco, CM Stalin successfully secured commitments for substantial investments in Chennai’s tech sector.

One key agreement involved the establishment of a Nokia research institute at Sirupcheri Chipget in Chennai, with an investment of Rs 450 crore. This facility will focus on advanced technologies including 10G, 25G, 50G, and 100G services and is expected to create 100 jobs. In another major development, a deal was reached for an artificial intelligence-based center by Pay Ball in Chennai. This centre is projected to generate approximately 1,000 new jobs.

Furthermore, CM Stalin witnessed the signing of an agreement with a microchip company to set up a Semiconductor Research Centre in Semmanchery, Chennai. This project, which involves an investment of Rs 250 crore, will provide employment for 1,500 individuals.

Additionally, Applied Materials Company has committed to establishing an AI-driven semiconductor manufacturing centre in Taramani, Chennai. This facility is anticipated to offer 500 jobs. These agreements mark a significant boost to Chennai’s semiconductor and tech industries, promising both economic growth and job creation.

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