News

CM Stalin US Tour: Semiconductor Industry company Yield Engineering Systems to Invest ₹150 Crore in Coimbatore

SimpliCity News Team · 30 Aug 2024

Coimbatore: The Government of Tamil Nadu has signed a Memorandum of Understanding (MoU) with Yield Engineering Systems (YES), a leading semiconductor equipment and process provider, to establish a product development and manufacturing facility in Sulur, near Coimbatore. The investment, valued at ₹150 crores, is expected to generate 300 new jobs in the region.

This development is part of a series of investments secured during Tamil Nadu Chief Minister M.K. Stalin's ongoing tour of the United States. YES, which already has a presence in Puliakulam, Coimbatore, is now expanding its footprint in the region with this new facility.

CM Stalin expressed his satisfaction with the progress of his US tour, stating, "The first day in San Francisco has set a promising tone for the days to follow!" He announced that investments exceeding ₹900 crores have been secured for various locations in Tamil Nadu, including Chennai, Coimbatore, Madurai, and Chengalpattu, which are expected to create 4,100 new jobs across multiple sectors.

Other major investments secured during the tour include:

1. Nokia: ₹450 crore investment, creating 100 jobs

2. PayPal: 1,000 new job opportunities

3. Microchip: ₹250 crore investment, generating 1,500 jobs

4. Infinx: ₹50 crore investment, providing 700 jobs

5. Applied Materials: 500 new job openings

The Chief Minister expressed optimism about the remaining two weeks of his tour, stating, "We continue to intensify this momentum and attract more investors to Tamil Nadu, propelling our march towards a trillion-dollar economy!"

This series of investments, including the YES facility in Coimbatore, marks a significant step towards boosting Tamil Nadu's economic growth and creating employment opportunities across various sectors.

investment semiconductor jobs economy industrial development mk stalin us tour

CM Stalin US Tour: Semiconductor Industry company Yield Engineering Systems to Invest ₹150 Crore in Coimbatore

Related stories