San Francisco [US], August 30 (HBTV): After the Tamil Nadu government signed memoranda of understanding (MoU) with several companies, Chief Minister MK Stalin, currently on a visit to the United States, announced on Friday that the state has secured investments exceeding INR 900 crore, which will create approximately 4,100 jobs.
With two more weeks remaining in his visit, Stalin expressed optimism that the state would attract further investments, advancing its journey towards becoming a trillion-dollar economy.
Stalin wrote on X: ‘The first day in San Francisco has set a promising tone for the days to follow! We have secured investments exceeding INR 900 crore in Chennai, Coimbatore, Madurai, and Chengalpattu, paving the way for 4,100 new jobs across multiple sectors! Nokia - INR 450 crore, 100 jobs; PayPal - 1,000 jobs; Yield Engineering Systems - INR 150 crore, 300 jobs; Microchip - INR 250 crore, 1,500 jobs; Infinx - INR 50 crore, 700 jobs; and Applied Materials - 500 jobs.’
The tweet added, "With two more weeks ahead, we continue to intensify this momentum and attract more investors to Tamil Nadu, propelling our march towards a trillion-dollar economy!
The Tamil Nadu government has signed Memoranda of Understanding with several investors, including Nokia, PayPal, Microchip, Yield Engineering Systems, during CM MK Stalin's visit to the United States.
These agreements were signed by Guidance Tamil Nadu, the state government's investment promotion agency, in the presence of Chief Minister MK Stalin and Industries Minister TRB Rajaa.
As per the agreements, Nokia will establish a new Research and Development Centre in Tamil Nadu at a cost of INR 450 crore, generating 100 jobs, while PayPal will set up an Advanced Development Centre in Chennai, creating 1,000 jobs.
Microchip will establish a new Research and Development Centre for semiconductor technology in Semmancherry, Chennai, at a cost of INR 250 crore, generating 1,500 jobs.
Yield Engineering Systems will set up a product development and manufacturing facility for semiconductor equipment in Sulur, Coimbatore, at a cost of INR 150 crore, generating 300 jobs.
(ANI)