Polymatech Electronics, a global leader in semiconductor manufacturing, announced plans to invest $100 million in a new semiconductor manufacturing facility in Bahrain.
The announcement was made by N Eswara Rao, managing director and chief executive of Polymatech Electronics, during the Gateway Gulf 2024 forum.
The investment will be made in phases. Phase 1A will involve a $16.5m investment in leased premises, with operations commencing in early January 2025. Phase 1B will see a $83.5m investment in a dedicated facility on company-owned land, with operations expected to start by October 2026.
The Bahrain facility will initially focus on the production of medical and horticultural electronics, with the long-term goal of scaling up to 10 billion chips annually. The facility will serve as a regional hub for Polymatech’s operations in the Middle East and North Africa (Mena) region.
Polymatech’s decision to expand to Bahrain was facilitated by the support of the Bahrain Economic Development Board (EDB), the national investment promotion agency, which streamlined the investment process.
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