ITHCA invests in US firm GSME for semiconductors
Published: 05:02 PM,Feb 10,2024 | EDITED : 09:02 PM,Feb 10,2024
The agreement was signed by Engineer Said bin Abdullah al Mandhari, CEO of ITHCA Group, and Engineer Farhat Jahangir, CEO of GSME.
MUSCAT: In a historic move, the ITHCA Group has reaffirmed its dedication to technological progress by investing in the US-based semiconductor design and service company, GSME, marking a significant milestone for the Sultanate of Oman.
This groundbreaking investment is structured into two phases, with the initial phase completed in 2023 and the subsequent phase finalised in February 2024, coinciding with the successful development of the first two test chips, Oman-1 and Oman-2, entirely crafted by Omani engineers during their training.
ITHCA's strategic investment in GSME not only represents a noteworthy financial achievement but also signifies a remarkable technological advancement for Oman. This pioneering initiative underscores the nation's commitment to nurturing innovation and emerging as a prominent player in the global semiconductor industry. Moreover, it highlights ITHCA's steadfast dedication to investing in cutting-edge technologies and leveraging local Omani talent to drive the design activities within the company.
The agreement between the ITHCA Group and GSME was officially signed by Engineer Said bin Abdullah al Mandhari, CEO of ITHCA Group, and Engineer Farhat Jahangir, CEO of GSME.
Engineer Said bin Abdullah al Mandhari emphasised that this strategic investment in GSME marks a significant financial milestone and technological leap forward for the Sultanate of Oman. He reiterated that this investment, a first of its kind in Oman, underscores the nation's commitment to fostering innovation and emerging as a key player in the global semiconductor arena. Additionally, Al Mandhari underscored ITHCA's dedication to investing in emerging technologies and cultivating high-value ICT capabilities and human capital, thereby contributing positively to the national economy and human resources.
As the global demand for advanced semiconductor solutions continues to soar, this investment underscores Oman's ability to meet these demands head-on. With a strategic vision and unwavering commitment to excellence, Oman is solidifying its position as a key influencer in shaping the future of semiconductor innovation worldwide.
This groundbreaking investment is structured into two phases, with the initial phase completed in 2023 and the subsequent phase finalised in February 2024, coinciding with the successful development of the first two test chips, Oman-1 and Oman-2, entirely crafted by Omani engineers during their training.
ITHCA's strategic investment in GSME not only represents a noteworthy financial achievement but also signifies a remarkable technological advancement for Oman. This pioneering initiative underscores the nation's commitment to nurturing innovation and emerging as a prominent player in the global semiconductor industry. Moreover, it highlights ITHCA's steadfast dedication to investing in cutting-edge technologies and leveraging local Omani talent to drive the design activities within the company.
The agreement between the ITHCA Group and GSME was officially signed by Engineer Said bin Abdullah al Mandhari, CEO of ITHCA Group, and Engineer Farhat Jahangir, CEO of GSME.
Engineer Said bin Abdullah al Mandhari emphasised that this strategic investment in GSME marks a significant financial milestone and technological leap forward for the Sultanate of Oman. He reiterated that this investment, a first of its kind in Oman, underscores the nation's commitment to fostering innovation and emerging as a key player in the global semiconductor arena. Additionally, Al Mandhari underscored ITHCA's dedication to investing in emerging technologies and cultivating high-value ICT capabilities and human capital, thereby contributing positively to the national economy and human resources.
As the global demand for advanced semiconductor solutions continues to soar, this investment underscores Oman's ability to meet these demands head-on. With a strategic vision and unwavering commitment to excellence, Oman is solidifying its position as a key influencer in shaping the future of semiconductor innovation worldwide.