polymatech semiconductor chip plant, Semiconductor production in Tamil Nadu.. A huge plant is coming! – Chennai based polymatech plans to invest one billion dollars in Tamilnadu for semiconductor chips manufacturing

Chennai-based Polymatech is planning to invest $100 million in Tamil Nadu for semiconductor chip manufacturing. Polymatech has also signed a memorandum of understanding with the Tamil Nadu government for this.

In the first phase, Polymatech has invested $130 million in Tamil Nadu to expand production. Polymatech plans to invest a total of $100 million by 2025.

In this regard, Nandam Eshwar Rao, Chairman of Polymatech Company, said that they have applied for a 25% subsidy under the government’s PLI scheme for semiconductor production and have also received approval for the initial phase of production.

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Semiconductor production will begin within the next few weeks, Polymatech said. Polymatech’s first phase plant has the capacity to produce 250 million semiconductor chips per year.

Polymatech also plans to prepare raw materials for semiconductor manufacturing in India. At present Polymadec is importing products including silver paste. But polymatech said it will soon manufacture the raw materials locally.