Polymatech Electronics, a Chennai-based multi-wafer semiconductor chips manufacturer, has announced an investment of $16.2 million to set up a semiconductor manufacturing facility in Bahrain, with plans to invest up to $100 million by 2027.
Polymatech specialises in designing, manufacturing, packaging, and assembling opto-semiconductor chips, which are used in devices like LEDs, lasers, and photodetectors for industries such as telecommunications, automotive, and medical devices.
“Initially, we focused on opto-semiconductors, but we recently acquired a company in California to boost our capacity. Now, we are shifting focus to power semiconductors and data transmission, including 5G and 6G chips,” Eswara Rao Nandam, managing director and CEO of Polymatech Electronics told FE.
The Bahrain facility will be established in the industrial area of Hidd under the brand name Atri.
It will serve as the final assembly point for chips manufactured and packaged in India, strategically catering to West Asia and North Africa, with a focus on horticulture and medical electronics industries.
Polymatech’s factory in Tamil Nadu, currently produces 2 billion chips annually, with plans to expand to 5 billion by the end of 2024.
From: financialexpress
Financial News
