Polymatech’s new facility would operate under the brand name ‘Atri’. Credits: GettyImages/Bloomberg.

Indian chipmaker Polymatech Electronics has announced plans to establish a new semiconductor manufacturing facility in Bahrain.

The company will initially invest $16.2m for the new facility. However, it could invest up to $100m by 2027.

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The new facility, spanning approximately 9300sqm, will be situated in the Hidd Industrial Area. It will operate under the brand name ‘Atri’ and be dedicated to the assembly of essential 5G and 6G components catering to West Asia and North Africa regions.

Eswara Rao Nandam, managing director and CEO of Polymatech Electronics said the company is “shifting focus to power semiconductors and data transmission, including 5G and 6G chips,” despite an initial focus on opto-semiconductors.

Noor bint Ali Alkhulaif, minister of sustainable development and CEO of Bahrain’s Economic Development Board (EDB) said: “We at Bahrain EDB are pleased to welcome Polymatech alongside several leading multi-sector companies to business-friendly Bahrain.”

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Ali AlMudaifa, chief of business development at Bahrain EDB, highlighted that this was Bahrain’s first semiconductor-related investment. He added that such projects would benefit from the kingdom’s labour fund aimed towards human capital development and the upskilling of Bahraini talent.

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This announcement was made during Bahrain EDB’s visit to India. The agency’s visit aims to strengthen bilateral economic ties and attract foreign direct investment to the kingdom. Alongside Polymatech, Bahrain EDB has also secured investment commitments valued at $16.65m from Chemco, Bhageria Industries and an ICT firm.

These investments further solidify the ties between both countries. According to the data by Bahrain EDB, India’s FDI stock in Bahrain has grown by 36.6% between 2019 and 2023. It has added an average of $102m annually, with its total FDI stock reaching $1.52bn in 2023.