Polymatech CEO & Founder Eswara Rao Nandam, Bahrain Minister of Sustainable Growth and CEO of Bahrain EDB Noor bint Ali Alkhulaif and Bahrain EDB Chief of Enterprise Growth Ali Al Mudaifa throughout their Chennai go to.
Polymatech Electronics Ltd introduced organising of semiconductor chip manufacturing facility in Bahrain to strengthen its presence in MENA area and drive innovation in medical electronics and meals safety, mentioned a high official.
“The preliminary funding is $16.5 million displays our broader technique to take a position over $100 million in Bahrain by 2027,” its CEO & Founder Eswara Rao Nandam informed the press.
“Our resolution to spend money on Bahrain is pushed by its strategic place and its potential to grow to be a pivotal participant within the semiconductor business,” he mentioned.
An announcement to this impact was made in the course of the go to of Bahrain Financial Growth Board officers to the Chennai facility. Polymatech will set up the semiconductor facility in Bahrain’s Industrial Space of Hidd underneath the model identify Atri.
“Polymatech establishing a semiconductor facility in Bahrain is a pivotal milestone on this journey of digital transformation,” mentioned Bahrain Minister of Sustainable Growth and CEO of Bahrain EDB Noor bint Ali Alkhulaif including it will usher in a brand new period of innovation and technological development throughout sectors, contributing considerably to the nationwide economic system.
Staff Bahrain additionally introduced investments by three different India-based firms — Chemco Plastics, Bhageria Industries and an ICT agency within the area.
Town-based Polymatech designs, manufactures, packages and assembles opto-semiconductor chips and modules.
Printed – September 14, 2024 10:51 pm IST
