The Hindu Business Line : Tessolve to start work on project in TN

The company signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government last year to set up a testing, assembling, packaging and prototyping facility with initial capability to handle five lakh integrated circuits a day. However, no operations including construction activities commenced thereafter.

“They were waiting for the semi conductor policy to be passed before commencing operations,” Mr Shaktikanta Das, Industries Secretary, Tamil Nadu told Business Line. With the semi conductor policy being announced last month, the company would start operations (primarily developing the site) in a fortnight or so, he said.

Tessolve, through its Indian arm TAPP Semiconductor India Pvt Ltd, had proposed to invest about Rs 1,000 crore over five years in the facility, starting with Rs 350-400 crore initially. The project is expected to employ over 1,700 people directly and over 5,000 people indirectly.

Another project signed last year that did not commence on schedule was Apollo Tyres’ Rs 520-crore automobile radial tyres manufacturing project at Oragadam, near Chennai.

Mr Das said the company would start work by December and was currently redesigning their machine configuration and product mix for the facility.

Apollo Tyres, at the time of the MoU, had planned to make car (ultra-high performance radial tyres), bus and truck tyres at the facility.

It is expected to generate employment for over 2,000 people.

More Stories on : Hardware | Tyres | Tamil Nadu

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