Nokia, PayPal & Applied Materials & 3 others commit to invest Rs 900 cr in Tamil Nadu

Chennai: US-based Applied Materials will set up an advanced artificial intelligence-enabled technology development centre for semiconductor manufacturing and equipment, while telecommunications major Nokia has pledged to establish its largest fixed network testbed at an investment of Rs 450 crore in Chennai.

Four other companies – PayPal, Yield Engineering Systems, Microchip, and Infinix – will also set up their units or expand their operations in various parts of Tamil Nadu. Between the six firms a total investment exceeding Rs 900 crore has been signed on with a promise to generate 4,100 “high-value” jobs.