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Tamil Nadu's industrial landscape is poised for a significant transformation with the signing of agreements for the establishment of two major semiconductor facilities in Chennai. Chief Minister MK Stalin, during his recent visit to the United States, facilitated these deals, securing substantial investments for Chennai's tech sector at a high-profile investors' conference in San Francisco.
One of the key agreements involves 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 anticipated to create 100 jobs. The institute will be a hub for research and development in the field of next-generation communication technologies, contributing to India's technological advancement and global competitiveness.
Adding to the momentum in Chennai's tech sector, a deal was reached for an artificial intelligence-based center by Pay Ball. This center, located in Chennai, is projected to generate approximately 1,000 new jobs. The AI-driven center will focus on developing innovative solutions in various sectors, including healthcare, finance, and education, further cementing Chennai's position as a leading center for AI research and development in India.
In addition to these major investments, CM Stalin also witnessed the signing of an agreement with a microchip company for the establishment of a Semiconductor Research Centre in Semmanchery, Chennai. This project, involving an investment of Rs 250 crore, will provide employment for 1,500 individuals. The Research Centre will play a crucial role in fostering innovation and driving growth in the semiconductor industry in India, contributing to the country's ambition to become a global leader in semiconductor manufacturing.
Further enhancing Chennai's semiconductor and tech ecosystem, Applied Materials Company has committed to establishing an AI-driven semiconductor manufacturing center in Taramani, Chennai. This facility is anticipated to offer 500 jobs. The AI-driven manufacturing center will leverage advanced technologies to drive efficiency and productivity in semiconductor manufacturing, positioning Chennai as a key hub for cutting-edge semiconductor production in the region.
These agreements mark a significant boost to Chennai's semiconductor and tech industries, signifying a commitment to fostering innovation and economic growth. The investments are expected to create thousands of jobs, contribute to the development of critical technologies, and attract further investments to the region. Chennai's transformation into a global hub for semiconductor manufacturing and AI research and development will have a ripple effect on the Indian economy, propelling the country towards technological self-reliance and global competitiveness.
Source: Chennai to Get 2 Big Semiconductor Plants: CM Stalin Signs Landmark Agreements During US Visit