CHENNAI: Singapore-based IGSS Ventures on Friday signed an MOU with the Tamil Nadu government for setting up a semiconductor park.

According to the MOU, in the next five years IGSS Ventures will invest Rs 25,600 crore in establishing high tech semiconductor park there by providing direct employment to 1,500 persons. Apart from direct employment, IGSS Ventures will also provide indirect employment to 25,000 persons through various projects such as circuit designers, vendors selling manufactured products, vendors selling secondary products and outsourcing and testing semiconductors, which will be present inside the proposed park.

Apart from that IGSS Ventures in the name of Project 'Suria' will establish semiconductor fabs and for the purpose has applied under National Semiconductor Mission of the Union government.

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.

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