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To establish semiconductor park, IGSS Ventures and Tamil Nadu Govt signs MoU

In the presence of Chief Minister M.K. Stalin, a Memorandum of Understanding (MoU) was signed between Tamil Nadu and the Singapore-based M/s. IGSS Ventures Pte Ltd to build a 300-acre semiconductor high-tech park in the State with an investment and grants of 25,600 crore. At the function held at the Secretariat were Industries Minister Thangam Thennarasu, Chief Secretary V. Irai Anbu, and other top officials. In the next five years, the project is expected to directly employ more than 5,000 individuals, according to an official press release.

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KEY POINTS:

  • By using renewable energy to cook, IGSS Ventures intends to take part in the India Semiconductor Mission and Project Surya, both of which aim to lessen air pollution and global warming.
  • For a semiconductor fab that will produce wafers in three different technology nodes, including 28 nm, 45 nm, and >=65 nm, as well as an industry ecosystem infrastructure that includes semiconductor circuit designers, material suppliers, equipment suppliers, and outsourced semiconductor assembly and test players, Tamil Nadu has allocated nine strategic sites, including two near Chennai.
  • According to the consortium, 1,500 semi-skilled and skilled workers might be employed when commercial production begins in two years.
  • With an expected investment of roughly 76,000 crore, the ecosystem partners’ work in the high-tech park might result in an extra 25,000 jobs for people.

Important Takeaways For All Competitive Exams:

  • Chief Minister of Tamil Nadu: Shri M. K. Stalin
  • Industries Minister of Tamil Nadu: Thangam Thennarasu
  • Chief Secretary of Tamil Nadu: V. Irai Anbu

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