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New industrial policy will create new opportunities; Nava Raipur will become the Silicon Valley of Chhattisgarh” – Chief Minister Shri Vishnu Deo SaiNRDA allocates 1.5 lakh sq. ft. of land in Sector-5 within 45 daysPlant to be established at a cost of ₹1,143 crore; hundreds to gain employmentPolymatech proposes an additional ₹10,000 crore investment in Chhattisgarh
Raipur, April 11, 2025 – Chief Minister Shri Vishnu Deo Sai today laid the foundation stone for the plant of Polymatech Electronics Pvt. Ltd., a leading semiconductor manufacturing company, in Nava Raipur. The company will set up a major facility with an investment of ₹1,143 crore. The plant, spread over 1.5 lakh square feet, aims to manufacture 10 billion chips by the year 2030, which will be used in telecom, 6G/7G technology, laptops, and power electronics. The project is expected to create significant employment opportunities for the local population.Addressing the gathering, CM Shri Sai said this is a proud moment for all as the state’s first semiconductor unit is being established. He added that Chhattisgarh’s new industrial policy offers special incentives for the semiconductor industry, ensuring favorable conditions for investment.He emphasized that the world’s developed nations have advanced through innovation and research in technology. “With the arrival of 6G and 7G technologies, it is a matter of pride that the necessary chips will be manufactured right here in our country, by our engineers in Nava Raipur, Atal Nagar,” he said.CM Sai highlighted that during an Investors Connect program held in Delhi last December, state officials met Polymatech’s management, where the company expressed interest in investing in Chhattisgarh. In record time, the Industry Department and NRDA provided land in Sector-5 of Nava Raipur, completing the tender process in just 45 days and lease deed registration in under 25 days.He described this as a major step towards building a “Viksit Chhattisgarh” (Developed Chhattisgarh) in line with the vision of a developed India. “Today’s foundation laying marks the beginning of Nava Raipur’s journey to becoming the Silicon Valley of Chhattisgarh,” he stated. On this occasion, appointment letters were also handed over by the Chief Minister to youth selected to work at the upcoming plant.Polymatech’s Managing Director, Mr. Eshwar Rao, thanked the Chief Minister for the state government’s swift and proactive support. He also proposed an additional ₹10,000 crore investment in a power module fabrication plant in Chhattisgarh, which will help the state reach new heights in transistors, power electronics, and electric vehicle sectors—creating over 5,000 job opportunities.The event was attended by Commerce & Industry Minister Shri Lakhanlal Dewangan, Housing & Environment Minister Shri O.P. Chaudhary, MLA Guru Khushwant Saheb, CSIDC Chairman Shri Rajeev Agrawal, Chief Secretary Shri Amitabh Jain, Principal Secretary to the Chief Minister Shri Subodh Kumar Singh, Secretary Shri P. Dayanand, Industry Department Secretary Shri Rajat Kumar, NRDA CEO Shri Saurabh Kumar, CSIDC MD Shri Vishwesh Kumar, senior officials, and employees of Polymatech.
