Polymatech invests USD 1 bn in semiconductor chip manufacturing, Auto News, ET Auto


 File Photo
File Photo

New Delhi: Tamil Nadu-based Polymatech, on Wednesday announced its expansion plan to invest about USD 1 billion by 2025. The investments will be in forwarding and backward integration operations of their current products and indigenization of several products that are being imported. Polymatech has signed an MoU with Govt. Of Tamil Nadu with an initial investment of USD 130 million.

Established in 2007, the semiconductor chip manufacturer has imported all equipment from Japan, adopting the Industry 4.0 theme. It produces a wide range of products including flip-chip, COB, Ceramic Chip – HTCC / LTCC.

Nandam Eswara Rao, Founding President, Polymatech Electronics 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”.

On its team comes Hidenobu Hitotsumatsu as CTO and Director, having 35 years of experience. Another addition to the team is a Finnish expert with 30 years+ of experience in the industry, who has joined and will be a part of Polymatech’s growth story.

According to the company, it has successfully completed all required trials with the first phase of imported machinery that has a capacity of 250 million chips.

Products will be introduced into the market in the coming weeks, it said.

At Plant 1, a 150,000 SFT Semicon manufacturing facility has been commissioned, in which temperature and RH-controlled clean rooms have been made ready with French machinery.

For further, expansion to Plant 2, land has been acquired and construction work will start soon, an official statement said.

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