Polymatech semiconductor manufacturing and packing facility is expected to produce 250 million chips per year with an investment of USD 1 Billion.
The company will invest USD 1 Billion to expand its chipset manufacturing and packing facility in Tamil Nadu. Nandam Eswara Rao, Founding President, Polymatech Electronics claimed that the facility will be capable of producing 250 million chips a year. Polymatech was established in the year 2007and has equipment imported from Japan. They are one of the major manufacturers in our country, adopting Industry 4.0. Their products range includes flip-chip, COB, Ceramic Chip – HTCC / LTCC.
The company has also filed for a 25% subsidy on capital expenditure through Production-Linked Incentive (PLI) scheme by the government and has acquired “in-principle approval” for the first phase of investment. The company has signed a MoU with the TN Government and made an investment of USD 130 Milliion for the expansion. Polymatech confirmed that the units will begin producing chips within the next couple of weeks.
Nandam Eswara Rao said “We recognize the immense scope of growth in the industry. As players at the forefront, we wish to expand our business and create value in the market. With a team made of the best global minds in tech and our investment in the business, we are sure to be able to capitalize on the industry’s potential and scale the semiconductor market in India. We plan to be one of the largest chip manufacturers in Asia by 2025”. He added, “With a team of best global minds in tech and our investment in the business, we are sure to be able to capitalize on the industry’s potential and scale the semiconductor market in India.”
According to Ashwini Vaishnaw, IT Minister, the government has received many applications under the PLI scheme, semiconductors. It is expected to take about 15-18 months to complete the process. India has received investment proposals from five global semiconductor majors for setting up units in the country.