TN signs agreements with Nokia, PayPal, Applied Materials, and a host of IT companies

TN CM MK Stalin and State Industries Minister TRB Rajaa, who are visiting the US, signed the MoUs with these companies.

The Tamil Nadu government has signed agreements with Nokia, PayPal, Applied Materials, Yield Engineering Systems, Microchip and Infinx. Chief Minister MK Stalin and Industries Minister TRB Rajaa, who are visiting the US, signed the pacts.

"Nokia will set up an R&D centre, one of their largest fixed network test beds in the world, for innovations in 10G, 25G, 50G, and 100G PON, fixed wireless access, and MDU solutions, will be set up at SIPCOT, Siruseri, Chengalpattu, at Rs 450 crore, generating 100 jobs," said a statement from the state industries department.

The government signed an MoU with PayPal for an Advanced Development Centre focused on AI to be set up in Chennai, generating 1,000 jobs.

Also, read: Tata Electronics, JSW Energy, TVS Group unveil big ticket investments at Tamil Nadu Global Investors Meet

Another MoU was entered into with Applied Materials for an Advanced AI-Enabled Technology Development Centre for semiconductor manufacturing and equipment to be set up at Taramani, Chennai, which will generate 500 jobs.

An MoU with Yield Engineering Systems will pave the way for a product development and manufacturing facility for semiconductor equipment in Sulur, Coimbatore, for Rs 150 crore, creating 300 jobs.

Also, read: Dabur signs MoU with Tamil Nadu govt to invest Rs 400 crore in first manufacturing unit in South India, to create 250 jobs

The deal with Microchip is for an R&D centre in semiconductor technology at Semmencherry, Chennai, at a cost of Rs 250 crore, generating 1,500 jobs.

An MoU was also signed with Infinx for a technology and global delivery centre to be set up at ELCOT Vadapalanji, Madurai, for Rs 50 crore, generating 700 jobs.

Also, read: Tamil Nadu has garnered Rs 9.74 lakh crore new investments, created 31 lakh jobs: CM MK Stalin