Recently which firm has signed a MoU with Tamil Nadu Industrial Guidance and Export Promotion Bureau to set up the first semiconductor park in Tamil Nadu?

Solution

IGSS venture, a Singapore-based firm, has signed a Memorandum of Understanding (MoU) with Tamil Nadu Industrial Guidance and Export Promotion Bureau to set up the State’s first semiconductor park at an investment of Rs 25,600 crore over the next five years. The project is expected to create 25,000 jobs. While the location for setting up the high-tech electronics park is yet to be finalised, it is expected to be spread over 300 acres when it’s fully completed. The Semiconductor High-Tech Park (HTP) consists of several units such as semiconductor circuit designers, material suppliers, equipment suppliers, and Outsourcing and Testing Semi-Conductors (OSATS) etc. IGSS has proposed to set up a semiconductor fab under ‘Project Suria’ and applied the scheme for setting up of semiconductor fabs in India under India Semiconductor Mission.