The project aims to provide direct employment to over 5,000 people in the next five years
The project aims to provide direct employment to over 5,000 people in the next five years
Guidance A Memorandum of Understanding (MoU) was signed between Tamil Nadu and Singapore based M/s. IGSS Ventures Pte Ltd, in the presence of Chief Minister MK Stalin, with an investment of ₹25,600 crore and a grant of ₹25,600 crore for setting up a 300-acre semiconductor hi-tech park in the state.
Industries Minister Thangam Thennarasu, Chief Secretary V. Irai Anbu and senior officials were present in the program organized at the Secretariat. The project aims to provide direct employment to over 5,000 people over the next five years, an official press release said.
IGSS Ventures plans to be part of the Bharat Semiconductor Mission and Project Surya, which aims to reduce air pollution and global warming by cooking with renewable sources.
“Tamil Nadu has allocated nine strategic sites including two in the vicinity of Chennai, a semiconductor fab that will produce three technology nodes of wafers, which are 28 nm, 45 nm and >= 65 nm, and an industry ecology. The system is the infrastructure that hosts semiconductor circuit designers, material suppliers, equipment suppliers, and outsourced semiconductor assemblies and test players,” IGSS Ventures said in a release.
The consortium plans to start commercial production in two years, with employment potential for 1,500 semi-skilled and skilled persons. This hi-tech park “will see additional employment of 25,000 people with jobs generated by ecosystem partners with an estimated investment of around Rs 76,000 crore”, it said.