CHENNAI: The Tamil Nadu govt has signed MoUs with six global technology firms for investments totalling 900 crore with potential to create 4,100 jobs in different parts of the state. The deals were signed in the presence of chief minister M K Stalin at an Investors Conclave in San Francisco on Thursday to set up research and development (R&D) and delivery centres in the state.
Finnish telecom major Nokia signed an agreement for setting up a new fixed network R&D lab at Siruseri. The project entails potential investment of 450 crore and, the company said, it will be the largest for its fixed networks business.
Payments company PayPal plans to set up an advanced development centre focused on artificial intelligence (AI), with potential employment for about 1,000 people.
CM: Over 300 US firms have operations in TN Infinx Healthcare is to set up a technology delivery centre at Madurai with an investment of ₹50 crore and potential for 700 jobs.
Applied Materials, a semiconductor and display equipment player, will build an advanced AI-based technology development centre for semiconductor manufacturing and equipment. Microchip Technology plans ₹250 crore investment for a R&D Centre in semiconductor technology at Chennai.
Yield Engineering Systems, maker of manufacturing processing equipment, has agreed to set up a product development and manufacturing facility for semiconductor equipment at Coimbatore with an investment of ₹150 crore.
Speaking at the conclave, Stalin highlighted the state's development metrics, availability of skilled talent, ease of doing business and proactive policy measures. "Tamil Nadu and America have well-established trade relations and more than 300 US firms have operations in the state. I consider this as a recognition for TN's industrial growth," he said.
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