CHENNAI: A Semiconductor Electronics Manufacturing Park would be established at Madhuramangalam in Kancheepuram district through SIPCOT at a cost of Rs 175 crore to attract large-scale investments in the semiconductor sector, Chief Minister C Joseph Vijay announced on Monday (August 31).

The park, which would house semiconductor industries along with research and development facilities, is expected to generate direct and indirect employment for around 5,000 people, giving a major boost to Tamil Nadu's electronics and semiconductor ecosystem, he said.

Referring to the Budget announcement on Multi-Modal Logistics Parks and Dry Ports, the chief minister said a Multi-Modal Logistics Hub would be established in Tiruchy through TIDCO, considering that the central region and its surrounding areas are home to several MSME industries.

TIDCO will conduct a feasibility study and prepare a detailed project report (DPR), based on which the logistics hub will be established in Tiruchirappalli, he added.

CM Vijay also announced the establishment of the Coimbatore FinTech Hub at an estimated cost of Rs 400 crore.

The proposed centre is aimed at strengthening Coimbatore's position as a hub for technology-enabled financial services and creating new opportunities in the digital economy.