Polymatech to Establish USD 16 Million Semiconductor Facility in Bahrain

Bahrain Economic Development Board (Bahrain EDB) secures a USD 16 million investment from Polymatech to establish a semiconductor manufacturing facility in Bahrain. This development aims to position Bahrain as a key player in the global semiconductor value chain and foster its growth as an innovation hub.

Bahrain Economic Development Board (Bahrain EDB) has secured a USD 16 million investment from Polymatech to set up a semiconductor manufacturing facility in Bahrain's Hidd Industrial Area. This announcement was made during Bahrain EDB's visit to several Indian cities, including Mumbai, Bengaluru, and Chennai, to promote Bahrain as a business and technology hub.

H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and CEO of Bahrain EDB, expressed excitement about Polymatech's investment, emphasizing Bahrain's vision to develop a digital-first economy. The new facility is expected to play a crucial role in producing 5G and 6G components, which are essential for modern technology.

Eswara Rao Nandam, CEO of Polymatech, highlighted Bahrain's strategic location and conducive business environment as key factors in their decision. The investment also includes commitments from three other Indian companies, enhancing Bahrain's manufacturing and ICT sectors. Ali AlMudaifa, Chief of Business Development at Bahrain EDB, credited the collaborative efforts of public and private sectors for this successful investment portfolio.

(With inputs from agencies.)