India-Based Semiconductor-Chip-Manufacturer Polymatech Announces Initial USD 16.2 Mn Investment in .
Bahrain
Economic Development Board (Bahrain EDB) has secured initial investment
commitments valued at over USD 16 million from Polymatech to establish a
semiconductor manufacturing facility in Bahrain’s Industrial Area of Hidd.
This announcement was made during the island
nation investment promotion agency’s visit to India, which is covering key cities including Mumbai, Bengaluru,
and Chennai, aimed at showcasing Bahrain’s dynamic business landscape and its
growing appeal as a regional hub for technology and manufacturing.
H.E.
Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive
of Bahrain EDB, stated, "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. Polymatech establishing
a semiconductor facility in Bahrain is a pivotal milestone on this journey of
digital transformation and is set to usher in a new era of innovation and
technological advancement across sectors, contributing significantly to the
national economy."
Polymatech’s Bahrain facility, which is set to be
established under the brand name Atri, will play a critical role in producing essential 5G and 6G
components, positioning the island nation as a key player in the global
semiconductor value chain, a sector that is becoming indispensable in today’s
digital world. Semiconductors are fundamental to modern appliances and
industries at large, powering everything from smartphones to electric vehicles.
This marks Polymatech’s first step in expanding its global footprint, driven by
a commitment to sustainable and research-led development.
Eswara
Rao Nandam, Managing Director and Chief Executive Officer of Polymatech
Electronics, commented, “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, allowing us to tap into the
growing demand internationally and contribute to the local and regional
innovation landscape.”
In addition to announcing Polymatech’s investment,
the visit to India also saw the announcement of investments from three other
India-based companies—Chemco Plastics, Bhageria Industries, and an ICT firm,
which are expected to further enhance Bahrain’s growing manufacturing and ICT
sectors.
Ali
AlMudaifa, Chief of Business Development at Bahrain Economic Development Board,
said, "Our success in attracting this robust
portfolio of investments is underpinned by the collective efforts of Team
Bahrain, a curated approach that champions the private and public sectors
working closely together to maintain an attractive investment environment known
for its ease of doing business to foster success stories with local roots and
global impact. Coupled with a strategic location, progressive regulatory
frameworks, the agility of Team Bahrain remains a cornerstone of our island
nation’s value proposition and competitiveness within an increasingly
competitive global playing field."
Polymatech’s entry into Bahrain, will contribute
to the Kingdom’s ongoing journey towards economic diversification, sustainable
growth, and its goal of becoming a hub for innovation and technological
excellence in the region.
Leave A Comment