ITHCA Group invests in US firm GSME for development of semiconductor chips

ITHCA Group invests in US firm GSME for development of semiconductor chips

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