CHENNAI: Polymatech Electronics Limited, India’s leading semiconductor manufacturer on Monday announced the execution of a 99-year lease deed for additional land in the SIPCOT Medical Devices Park, located in the vicinity of its existing manufacturing facility in Oragadam.
The newly secured 4.45 acre land in SIPCOT will enable Polymatech to accelerate the development of its medical devices manufacturing infrastructure. The expansion for which it has earmarked Rs 550 crore, follows the introduction and strong market reception of Polymatech’s latest medical device innovations showcased at CES Las Vegas and HIMSS Las Vegas.
Upon completion, the plant will manufacture a range of advanced medical devices, further strengthening India’s position in high-precision electronics and healthcare manufacturing.
The new facility is expected to generate employment opportunities for approximately 100 engineers.
This is a significant step in Polymatech’s continued expansion as the company’s current facility in Oragadam is operating at full capacity, reflecting strong demand for its advanced manufacturing capabilities. In parallel, the Government of Chhattisgarh has already allotted land to Polymatech and issued its recommendation, paving the way for Special Economic Zone notification. The formal notification process is in progress.
Eswara Rao Nandam, MD-CEO, said, “This additional land will help us in scaling advanced medical device manufacturing in India. With strong global validation of our innovations, this expansion will enable us to respond with speed, precision, and quality to growing market needs.”