Singapore-based IGSS Ventures on Friday signed an MoU with the State government for setting up a semiconductor park, in the presence of Chief Minister MK Stalin.
As per the MoU, in the next five years, IGSS Ventures will invest Rs 25,600 crore in establishing a high-tech semiconductor park by providing direct employment to 1,500 people. The firm will also provide indirect employment to 25,000 people as circuit designers, vendors selling manufactured products, vendors selling secondary products and outsourcing and testing semiconductors. Apart from that, IGSS Ventures, under the name Project āSuriaā will establish semiconductor fabs and has applied under the National Semiconductor Mission of the Union government.
This project will be a great boost to the growing demands of semiconductors looking at how there is a shortage of them globally.
IGSS Ventures is a group of companies involved in Semiconductors and its sister concerns innovative global solutions and services pvt ltd, IGSS GaN, Compundtech pvt ltd are involved in Semiconductor research and in establishing semiconductor fabs.