Tamil Nadu Chief Minister M K Stalin, alongside Industries Minister T R B Rajaa, signed significant deals with several global companies. These agreements, worth more than 900 INR-Crore, are expected to greatly enhance the state’s economy.
Among the companies involved in the investments are Microchip, Nokia, and PayPal, each bringing unique investments and expertise to the state. Moreover, these strategic deals underline Tamil Nadu’s commitment to attracting global players and boosting local development.
Key investments announced by the Chief Minister include:
The leading manufacturer of microcontrollers and analog solutions plans to establish a new R&D center for semiconductors in Semmancherry, Chennai. The estimated investment of this project is 250 INR-Crore and will create around 1,500 new jobs.
Nokia plans to set up a new R&D center in SIPCOT, Siruseri, Chengalpattu, which will be the world’s largest ‘fixed network’ test bed. It will focus on innovations in 10G, 25G, 50G, and 100G PON, fixed wireless access, and MDU solutions. This project is part of the significant Tamil Nadu deals, with an estimated investment of 450 INR-Crore.
Also Read: India’s Industrial Landscape in Q1 FY 2024-25: A Zone-wise Analysis
Furthermore, US-based Ohmium will develop a manufacturing facility in Chengalpattu for components related to electrolyzer manufacturing and hydrogen solution systems. With an estimated investment of 400 INR-Crore, this facility is will create around 500 jobs.
A major player in materials engineering solutions, Applied Materials, will establish an advanced AI-enabled technology development center in Taramani, Chennai. This center will specialize in semiconductor manufacturing and equipment, and it will create approximately 500 jobs.
Additionally, GeakMinds is establishing an IT & analytics services center in Chennai, anticipated to create 500 jobs. Similarly, Infinx is setting up a Technology and Global Delivery Center at ELCOT Vadapalanji, Madurai, investing 50 INR-Crore, creating 700 jobs.
The company will open a product development & manufacturing facility for semiconductor equipment in Sulur, Coimbatore. Moreover, with an estimated investment of 150 INR-Crore, this initiative will generate approximately 300 jobs.
Finally, the CM announced signing a deal with PayPal for an Advanced Development Centre in Chennai, focusing on artificial intelligence, which will create 1,000 jobs.
Also read: Upcoming Multiplex Project – Galaxy City, Guwahati, Assam
Meanwhile, Telangana is also actively seeking investments, especially from the global electronics manufacturing giant Foxconn, known for producing Apple’s iPhones. Telangana has offered an anticipated 2,000 Acres of land for a ‘Foxconn City’. It is expected to feature facilities similar to Foxconn’s vast Zhengzhou site in China. The state is encouraging Foxconn to consider options in Tier-II and Tier-III cities, as well as locations near Hyderabad, to further diversify its industrial base.
Biltrax Construction Data is tracking 32,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights. Furthermore, gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
0
