TN Plans Special Purpose Vehicle for Semiconductor Design & Testing Hub

TAMIL Nadu has unveiled plans to create a centre of excellence (CoE) for semiconductor design and testing and is seeking private partners to co-invest in a joint venture that would position the state as a serious contender in India's semiconductor drive.

- C SHIVAKUMAR @ Chennai

Tamil Nadu Industrial Development Corporation (TIDCO) has floated a request for proposals (RFP) to set up the centre under a joint venture model, structured as a special purpose vehicle. TIDCO will hold a minimum 20% equity stake and provide grant funding of up to ₹75 crore, or 40% of the project cost, with the balance to be raised by the winning bidder and partners. Equity may later be diluted to 5% to accommodate fresh investors, subject to board approval, according to official sources.