Polymatech, a Tamil Nadu-based manufacturer of semiconductors, intends to increase the size of its chipset manufacturing and packaging facilities there. The business will probably invest $1 billion. The factory will be able to generate 250 million chips annually in its initial phase. In accordance with the government’s production-linked incentive (PLI) system for semiconductor manufacturing, the company received in-principle permission for its Phase-I investment. In order to expand its plant in the state, Polymatech has invested $130 million and signed an agreement (MoU) with the Tamil Nadu government.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th August 2022 edition. Click here to buy this issue. Access Semiconductor news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.