India’s Polymatech to set up chip facility in Bahrain
The USD 16 million investment is part of a longer-term strategy, with the company planning to spend over USD 100 million in Bahrain by 2027, according to a report in the Economic Times.
Indian chipmaker Polymatech Electronics is investing USD 16 million in Bahrain to establish a semiconductor manufacturing facility in the Gulf country.
The unit to be set up under the brand name Atri in the Bahrain Industrial Area of Hidd will help produce 5G and 6G components, marking Polymatech’s first step in expanding its global footprint, according to a media release.
The investment is part of a longer-term strategy, with the company planning to spend over USD 100 million in Bahrain by 2027, according to a report in the Economic Times.
Polymatech designs, manufactures and assembles opto-semiconductor chips and modules, which are used in applications such as medical lighting, agriculture and consumer electronics.
“We at Bahrain EDB are pleased to welcome Polymatech alongside several leading multi-sector companies to business-friendly Bahrain. Bahrain continues to maintain momentum in delivering on its vision of developing a digital-first, intelligent economy, fostering a future-ready ecosystem that prioritizes the development of next-generation technologies, advanced manufacturing and a highly skilled workforce,” Bahrain's Minister of Sustainable Development and chief executive of the Bahrain EDB said.
The entry of Polymatech into Bahrain would contribute towards the country's economic diversification, sustainable growth and a goal of becoming a hub for innovation and technological excellence in the region, the media release said.
“We are excited to bring our expertise in semiconductor manufacturing to Bahrain, which offers a strategic location and facilitated access to the region. Establishing our semiconductor manufacturing facility here aligns perfectly with our expansion goals,” said Polymatech Electronics Managing Director and CEO Eswara Rao Nandam.
