Tamil Nadu unveils ₹175-crore semiconductor park in Kancheepuram

Tamil Nadu Chief Minister C. Joseph Vijay on Monday announced the establishment of a Semiconductor and Electronics Manufacturing Park at Maduramangalam in Kancheepuram district. The project, to be developed by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), carries an outlay of ₹175 crore.

Making a suo motu statement in the Assembly, the Chief Minister said the park is aimed at attracting investment in the semiconductor sector and strengthening the state's role in the field. The facility will include a global-standard research and development (R&D) centre to support the setting up of new semiconductor manufacturing units.

The park is expected to draw investments worth ₹2,000 crore and generate direct and indirect employment for around 5,000 people.

In a separate announcement, the Chief Minister said a Coimbatore FinTech Hub will be set up under the public-private partnership (PPP) model at a cost of ₹400 crore through the Tamil Nadu Industrial Development Corporation (TIDCO). The hub will focus on promoting digital financial services and innovation, offering world-class office spaces, modern laboratories, and skill development facilities. It is expected to create high-quality jobs and attract global investment in the FinTech sector.

The Chief Minister also announced the development of a Multi-Modal Logistics Hub in the Tiruchi region, based on a project report prepared by TIDCO. This follows the Budget announcement on establishing multi-modal logistics hubs and dry ports at strategic locations. Tiruchi was chosen given the presence of key industries and a large number of small and medium enterprises in the district and its neighbourhood.