Mubadala subsidiary to build $4 billion semiconductor plant
GlobalFoundries, the global semiconductor company owned by Mubadala Investment Company, announced today, Tuesday, the start of construction work for a new semiconductor plant in Singapore at a cost of 4 billion dollars (equivalent to 15 billion dirhams).
The plant is being built in partnership with the Singapore Economic Development Board and with contributions from some of GlobalFoundries’ clients. The new project will contribute to meeting the growing demand for technology and services provided by GLOBALFOUNDRIES to enable companies around the world to develop their businesses.
The new plant will be the state-of-the-art semi-finished product facility in Singapore, utilizing the company’s RF, analog power and fixed memory technologies and solutions.
GLOBALFOUNDRIES will add 23,000 square meters of space to be used as a sterile space and new administrative offices. The new factory will create a thousand new jobs, including specialized fields such as technicians, engineers and others.
Construction has already begun and is expected to be completed in 2023.
Tom Caulfield, CEO of GLOBALFOUNDRIES, said our company is addressing the global shortage of semiconductors by accelerating its investments around the world, and our close collaboration with our customers and the Singaporean government will contribute to the success of our business in Singapore, and we look forward to similar achievements in the United States and Europe.
Caulfield added that the new plant in Singapore will serve the automotive, 5G and network security sectors, and we will benefit from our existing long-term agreements with our customers in these fast-growing markets.
Semiconductor chips have gained great importance at the present time to become one of the most vital and indispensable resources for modern societies, as they are used in a wide range of products and sectors such as smart phones, cars and technology used in schools and hospitals.
It is worth noting that the global demand for semiconductor chips is witnessing unprecedented growth, and it is expected that semiconductor sales worldwide will double by 2.1 percent over the next eight years, according to a report by IBS in March 2021. GlobalFoundries has plans to increase the production capacity of all its manufacturing facilities in the USA and Germany, and implementation of these plans will begin with the implementation of the first phase of expansion of the 300mm wafer plant in Singapore.
After the expansion is completed, the company will add an additional capacity of 450,000 wafers each year, bringing the annual production capacity of the company’s factory in Singapore to 1.5 million “300mm” wafers.
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