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San Francisco [US], August 30: The Tamil Nadu government, during Chief Minister MK Stalin's visit to the United States, has signed several Memorandums of Understanding (MoUs) with major investors including Nokia, PayPal, Microchip, and Yield Engineering Systems.
These agreements were made by Guidance Tamil Nadu, the state’s investment promotion agency, in the presence of Chief Minister MK Stalin and Industries Minister TRB Rajaa.
According to the agreements:
- Nokia will invest Rs 450 crore to establish a new Research and Development Centre in Tamil Nadu, creating 100 jobs.
- PayPal will set up an Advanced Development Centre in Chennai, generating 1,000 jobs.
- Microchip will build a Research and Development Centre in Semiconductor Technology at Semmancherry, Chennai, with an investment of Rs 250 crore, creating 1,500 jobs.
- Yield Engineering Systems will develop a product development and manufacturing facility for semiconductor equipment at Sulur, Coimbatore, at a cost of Rs 150 crore, providing 300 jobs.
TRB Rajaa detailed these MoUs on social media, highlighting the expected job creation and investments. Tamil Nadu Chief Minister MK Stalin's visit aims to attract further support and investments to enhance the state’s economic development.
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