Business Daily from THE HINDU group of publications
Saturday, Aug 19, 2006

Cross Currency

Group Sites

Info-Tech - Hardware
US co to set up unit near Chennai

Our Bureau

CM lays foundation stone for project

Chennai , Aug. 18

Tessolve Services Ltd, US, will set up an assembly and production test centre for integrated circuit (IC) devices near Chennai. The company, through its Indian arm TAPP Semiconductor, would spend Rs 1,000 crore and employ around 5,000 people in the next five years in the facility.

The company has signed an agreement with the Tamil Nadu Government for setting up the facility. Mr P. Raja Manickam, Founder and CEO, TAPP Semiconductor, and Mr Shaktikanta Das, Tamil Nadu Industry Secretary, signed the agreement.

The Tamil Nadu Chief Minister, Mr M. Karunanidhi, laid the foundation stone for the project, which is to be set up in 50 acres within the Sriperumbudur Hitech Special Economic Zone. The company had sought 80 acres, and the State Government would allot the remaining 30 acres after the company gives the complete layout plan, said an official.

According to Mr Manickam, in the first year the company plans to spend around Rs 340 crore in the facility. The company will commence commercial production in mid-2007, and has signed the Bangalore-based Society for Integrated Circuit Technology and Applied Research, a silicon chip manufacturer, as a customer, he told newspersons.

Financial outlay

TAPP Semiconductor being a privately held company, Mr Manickam declined to give financial details. Venture capital companies and private investors had provided funds and investment for the new facility had already been tied up, he said.

More Stories on : Hardware

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Outsource Partners adds new facility

MS award for Munjal eSystems
Airtel launches help lines for rain-affected people
CDMA operators stay away from TRAI meet
US co to set up unit near Chennai
ECS motherboard certified
Writing on the go!
Siemens centre for managed services at Kolkata facility
Polaris to scale up headcount by 2,000
Isilica courses on Juniper tools
Silverline finalises one-time settlement
Sundaram Info opens ERP centre
IIMA, NIIT join hands for virtual classroom
Infocom 2006 to focus on Europe

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line