2 weeks Ago By Vaitheeswaran B
Tech giants like PayPal, Nokia, and Applied Materials have signed MoUs with the Tamil Nadu government to establish research and development and global delivery centres in the state, with Rs 900 crore investment expected to generate over 4,000 jobs. CHENNAI: Various global technology firms have signed agreements ( MoUs ) to set up their research and development centres and global delivery centres in the state. This includes PayPal , Applied Materials , Microchip Technology , and Nokia .
The Tamil Nadu govt has signed a memorandum of understanding for investments totalling Rs 900 crore and has the potential for more than 4,000 employment opportunities in different parts of the state, as part of Chief Minister MK Stalin's US trip. The state govt, on Thursday, signed agreements (MoUs) with representatives from six US firms in sectors such as semiconductor, fintech, and health at an investment conclave held at the tech hub of San Francisco in California, US. Finnish telecom major Nokia has signed an agreement with the state govt to set up a research and development centre at Siruseri SIPCOT with fixed network testing capabilities, according to a release from the Tamil Nadu govt.
The project entails a potential investment of Rs 400 crore. US payments company PayPal is to set up an advanced development centre focused on artificial intelligence (AI) and has signed an agreement with the state govt. Applied Materials, a semiconductor and display equipment player, has signed an MoU to build an advanced artificial intelligence-enabled technology development centre for semiconductor manufacturing and equipment.
Microchip Technology plans a Rs 250 crore investment, according to the release. The company already has a facility in the state focusing on integrated circuit development, design, and software development. Yield Engineering Systems , a 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 Rs 150 crore.
The company already has an engineering centre in Coimbatore. Infinx Healthcare plans to set up a technology delivery centre at Madurai with an investment of Rs 50 crore and the potential for 700 jobs. State Industries Minister T R B Raaja, department secretary Arun Roy, and senior officials were present at the event.
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