YES signs MoU with Tamil Nadu Government
Yield Engineering Systems (YES), a manufacturer of process equipment for AI and HPC semiconductor solutions, has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up a manufacturing and new product development facility in Coimbatore, India.
Yield Engineering Systems India Private Limited plans to invest INR 150 crores (USD 17.8 million) in this proposed project in the next 10 years and says that it plans to employ about 300 people directly over this time, a press release reads.
200 of these direct job opportunities will be created in the next five years in the State of Tamil Nadu. The company also intends to generate employment of about 1,200 indirect jobs through its suppliers and contract manufacturers.
"This facility brings us closer to our customers, provides scalable manufacturing and engineering infrastructure, as well as allows us to participate in the growth of semiconductor ecosystem in India. This effort aligns to Government of Tamil Nadu's vision to develop Coimbatore into a semiconductor capital equipment global capability center. Tamil Nadu offers an excellent business climate, a well-regarded education system and a great talent pool that will benefit YES as well as the wider semiconductor ecosystem," Rama Alapati, CEO and Chairman of YES, says in the press release
As part of MoU, Government of Tamil Nadu will provide facilitation and support to YES in the form of necessary infrastructural support and regulatory facilitation.
"Tamil Nadu aspires to move up the value chain for electronics and semiconductor manufacturing and design in India. This investment by YES is a significant milestone in creating a new semiconductor ecosystem in Coimbatore," said Dr T R B Rajaa, Hon'ble Minister for Industries, Government of Tamil Nadu.
