TAPP Semiconductor India signs MoU with Govt of Tamilnadu for its semiconductor production and packaging plant at Chennai
Released on = August 19, 2006, 4:37 am
Press Release Author = PRHUB
Industry = Semiconductors
Press Release Summary = Hon'ble Chief Minister of Tamilnadu lays the foundation stone in the presence of Union Minister of Communications & Information Technology TAPP Semiconductor India signs MoU with Govt. of Tamilnadu for its semiconductor production & packaging plant @ Chennai Acquisition of land completed and work at project site begins Estimated investment over Rs.1000 crores To employ 1700 and provide indirect employment to over 5000 people
Press Release Body = TAPP Semiconductor India Pvt. Ltd. today announced that it has completed land acquisition at Sriperumbudur on the outskirts of Chennai and work at the site has since began. The company said the project will involve an investment of over Rs.1000 crores. At a formal function held in the city, the company signed a formal Memorandum of Understanding with the State Government towards the same. Dr. Kalaignar M Karunanidhi, Hon'ble Chief Minister of Tamilnadu witnessed the MoU signing and laid the foundation stone to symbolically mark the project initiation. Thiru. Dayanidhi Maran, Hon'ble Union Minister of Communications and Information Technology, Govt. of India, unveiled the model of the upcoming facility. Chief Secretary, Govt. of Tamilnadu and senior officials from the Department of Industries were present on the occasion. Speaking on the occasion, Hon'ble Chief Minister of Tamilnadu Mr. M. Karunanidhi, said, "With the launch of TAPP's project for indigenous assembly and production of semiconductors, Tamil Nadu has become a prime destination for the semiconductor industry in India. This project would further enhance the attractiveness of Chennai for new investments in the electronics hardware sector". In his address, the Honorable Union Minister for Communications & Information Technology, Mr. Dayanidhi Maran said, "The establishment of plants in Sriperumbudur by global majors like Nokia of Finland, Flextronics of Singapore and now a semiconductor company like TAPP have created a turning point in the history of industrialization of Tamil Nadu." According to P Raja Manickam, Founder and CEO, TAPP Semiconductor India Pvt. Ltd.,"The facility marks a leap forward for the Indian semiconductor industry in its avowed objective of self-sufficiency. With the initiation of the work today, we are on schedule for completing the facility by 2007. TAPP is uniquely positioned to deliver and manage a project of this magnitude as it has a strong and diverse management with expertise in each part of the semiconductor value chain. We sincerely hope that our facility will provide the requisite fillip to the Indian semiconductor industry and allow it to move up the value chain and become a global hub in areas like production and packaging too." Commenting on the occasion, V Veerappan, Co-founder & Vice-president, TAPP Semiconductor India Pvt. Ltd. said," India is already a leader in chip design with latest designs coming out of our design centers. With this facility we will be able to match the designs with equally cutting-edge and best-in-class technology solutions so that a lot more can be done by chip companies in India over and above design. Without a proactive Chief Minister, a visionary Union Minister of Communications & Information technology and a supportive Department of Industries, am sure the project would not have progressed to this extent. The facility will have the capacity to handle 500000 ICs per day to start with and down the line will be able to handle 3 million ICs a day. It will employ over 1700 people besides providing indirect employment to over 5000 people. TAPP Semiconductor India Pvt. Ltd. was formed by senior professionals from the semiconductor industry who between themselves have global exposure and proven track record in key areas of the semiconductor value chain. The company through its integrated facility at Chennai aims to provide host of production and packaging solutions to global players as well as interested companies locally present.