Nokia, a leading global telecommunications, IT, and consumer electronics company, has entered into a major partnership with the Tamil Nadu government. This collaboration, marked by the signing of an MoU in San Francisco, will see Nokia invest Rs 450 crore in establishing its largest Fixed Network test bed worldwide, including innovations in 10G, 25G, 50G, and 100G Passive Optical Networks (PON), Fixed Wireless Access, and Multi-Dwelling Unit (MDU) solutions.
The new Research and Development (R&D) Center, set to be located at SIPCOT, Siruseri, Chengalpattu, will create approximately 100 jobs. In addition to Nokia, the Tamil Nadu government has secured agreements with several other prominent industrial players. PayPal, the American multinational financial technology firm renowned for its online money transfer solutions, has committed to setting up an Advanced Development Centre focused on Artificial Intelligence (AI) in Chennai.
This initiative, represented by Srini Venkatesan and Zi-Yang David Fan, will involve an investment that will generate around 1,000 job opportunities. Yield Engineering Systems, headquartered in Fremont, California, is also joining forces with Tamil Nadu. The agreement, signed by Ramakanth Alapati and Prabhat Mishra, will see the establishment of a product development and manufacturing facility for semiconductor equipment at Sulur, Coimbatore.
This venture, with an investment of Rs 150 crore, is expected to create approximately 300 jobs. Furthermore, Microchip Technology, based in Chandler, Arizona, is set to enhance its presence in Chennai with the development of an R&D Centre dedicated to semiconductor technology. This project, represented by Patrick Johnson and Bruce Weyer, will be situated in Semmancherry, Chennai, and involves an investment of Rs 250 crore.
It is projected to generate around 1,500 jobs. Microchip, a Fortune 500 company with global manufacturing facilities, has been operational in Chennai since 2012. The Tamil Nadu government has also signed a pact with Infinx, a healthcare technology firm from San Jose, California. Represented by Radhika Tandon, Infinx will establish a Technology and Global Delivery Centre at ELCOT Vadapalanji, Madurai, with an investment of Rs 50 crore.
This centre is expected to provide 700 job opportunities. Lastly, Applied Materials, the world’s leading semiconductor and display equipment company headquartered in Santa Clara, California, has committed to setting up an Advanced AI-Enabled Technology Development Centre for Semiconductor Manufacturing and Equipment in Taramani, Chennai.
Represented by Prabu Raja and Satheesh Kuppurao, this initiative will create around 500 jobs. Industries Minister T R B Rajaa and other senior government officials were present during the signing of these agreements. Tamil Nadu Chief Minister M.K. Stalin, who is currently on a high-profile visit to the US to attract investment as part of an ambitious plan to transform the state into a USD one trillion economy by 2030, witnessed these significant developments.
His tour, which commenced on August 27, encompasses a series of significant events, including an address to the Tamil community scheduled for August 31. Additionally, he will engage in discussions with representatives from US-based companies in Chicago on September 2. The Chief Minister’s visit is planned to conclude with his return to Chennai on September 14.
