ChennaiOnline, Saturday, 19 August , 2006, 11:44
US-based Tessolve Services Limited will set up a Rs 1000-crore assembly and production test centre for integrated circuit devices at the electronic hardware park at Sriperumbudur in Tamil Nadu.
An MoU for this was signed today between the company and the state government in the presence of Chief Minister M Karunanidhi and Union IT and Communication Minister Dayanidhi Maran at a function here.
Maran also laid the foundation stone for the facility, which will commence operations in December 2007.
Karunanidhi said Tamil Nadu had become a favourite destination for FDI during the past three months.
Maran said more foreign investors should come forward to set up their units in India.
Tessolve, a semiconductor test development provider, is to set up the unit on a 50-acre plot. It will provide direct employment for 1,700 people and indirect employment to 5,000 people in the next five years, Rajamanikam, the firm’s CEO, told reporters.
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