India-based Semiconductor-Chip-Manufacturer Polymatech Announces USD 16.2 Million Investment in Bahrain as Part of Multi-Sector Portfolio Valued at USD 33 million

India-based Semiconductor-Chip-Manufacturer
Polymatech Announces USD 16.2 Million Investment in
Bahrain as Part of Multi-Sector Portfolio Valued at USD 33
million
Chennai, India – 14th September 2024: With the support of Team Bahrain, the Bahrain Economic
Development Board (Bahrain EDB) has secured investment commitments valued at just under USD 33
million (over INR 268 Crores) stemming from leading India-based companies across multiple sectors.
At the forefront of this portfolio is Polymatech, which is planning to invest over USD 16 million 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 multisector
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."
The cumulative impact of these investments, particularly 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.
# ENDS #
For more information, please contact:
Abdulelah Abdulla
Communications Department
Economic Development Board
Phone: +973-39798919
E-mail: internationalmedia@bahrainedb.com
About Bahrain Economic Development Board (Bahrain EDB)
Bahrain Economic Development Board (Bahrain EDB) is an investment promotion agency with
overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance
the investment climate.
Bahrain EDB works with the government and both current and prospective investors to ensure that
Bahrain's investment climate is attractive, to communicate the key strengths, and to identify where
opportunities exist for further economic growth through investment.
Bahrain EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages
and provide significant investment opportunities. These sectors include financial services,
manufacturing, logistics, ICT and tourism. For more information on the Bahrain EDB, visit
www.bahrainedb.com.