Entertainment · July 1, 2022

igss ventures: Tamil Nadu secures Rs 25,000 Cr Semiconductor Park from IGSS Ventures

Singapore-based IGSS Ventures, one of three applicants for government incentives to set up semiconductor fab units, has chosen Tamil Nadu as the site for its factory.

The state government said on Friday that “a memorandum of understanding was signed today between IGSS Ventures Pvt Ltd and the Tamil Nadu Guidance Bureau to set up a high-tech semiconductor park…”

The state advisory body said it has allocated nine strategic sites, including two sites near Chennai, to house a semiconductor factory.

The factory, it said, will produce 28 nanometer (nm), 45 nm and 65 nm wafers and an industrial ecosystem infrastructure housing semiconductor circuit designers, material suppliers, equipment suppliers and outsourced semiconductor assembly and test (OSATs). . Player.

The state government “gives top priority to the development of semiconductor manufacturing in the state. The state is traditionally strong in the automotive and auto components sectors and is developing in electronics which has backward links with fab making the state an ideal location for a fab unit in India,” said Pooja Kulkarni, Managing Director and Chief Executive, Guidance Department, in an opinion.

The Rs 25,600 crore investment would be spread over five years and would create 1,500 jobs.

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IGSS is a consortium of companies with specialized skills in building a world-class semiconductor foundry. The consortium that will build a semiconductor fab called Project Suria is an applicant under the Indian Semiconductor Mission.

“The consortium believes that a differentiation strategy that offers both mainstream and emerging niche technologies with Tier 1 manufacturing capabilities and cost competitiveness will enable India to become a global leader in alongside offering mainstream solutions in the technology nodes selective semiconductor technologies,” the group’s founder and CEO Raj Kumar said in a statement.

Tamil Nadu is the second state to sack a semiconductor factory.

Karnataka became the first off the bloc after the ISMC consortium selected a water-rich site in Mysuru for its factory.

The Vedanta-Foxconn joint venture is still looking for a site to set up its plant.

Last December, the union cabinet approved a Rs 76,000 crore stimulus plan to boost semiconductor, display manufacturing and manufacturing units in India.

The incentives are planned for silicon semiconductor manufacturing, packaging, design, display manufacturing, compound semiconductors and silicon photonics manufacturing units.

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