Singapore gets $4 billion semiconductor fabrication plant

Robert Besser
16 Sep 2023, 13:18 GMT+10

As part of its major international manufacturing expansion, GlobalFoundries, the world's third-largest contract chipmaker, launched a semiconductor fabrication plant in Singapore this week
Tan Yew Kong, the U.S. chipmaker's general manager in Singapore, said the new 248,000-square foot facility can produce 450,000 300 millimeter wafers annually at full capacity
The company expects weak global demand for chips to pick up by the second half of 2024, he added

SINGAPORE: As part of its major international manufacturing expansion, GlobalFoundries, the world's third-largest contract chipmaker, launched a semiconductor fabrication plant in Singapore this week.

Tan Yew Kong, the U.S. chipmaker's general manager in Singapore, said the new 248,000-square foot facility, which costs US$4 billion, can produce 450,000 300 millimeter wafers annually at full capacity, expected by 2025 to 2026, and will create 1,000 jobs.

"If we run the Singapore campus' capacity to the fullest, that will probably be around 45 percent of revenue for GlobalFoundries," he said.

The company expects weak global demand for chips to pick up by the second half of 2024, he added.

The company's Singapore operations will serve 200 international clients and include two other fabs producing 720,000 300mm wafers and 692,000 200mm wafers per year, respectively.

GlobalFoundries' chips are used in cars and 5G technology.

Amid a chip shortage during the COVID-19 pandemic that has now become a surplus, GlobalFoundries announced a $6 billion global expansion plan in 2021.

Singapore's chip production sector accounts for some 11 percent of the global market and is expected to grow as more chipmakers open or expand operations in the near future.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.

More Information

27 ℃

Mostly Cloudy in Seletar

Hospitality

Section

First flight from Libya to Italy in 10 years, takes off from Tripoli

TRIPOLI, Libya: Italy and Libya resumed commercial flights for the first time in ten years on September 30, with flight ...

United Airlines' pilots sign new contract for better pay, benefits

CHICAGO, Illinois: On September 29, the union representing United Airlines' pilots said its members had ratified a new four-year contract, ...

Slow economy means fewer Chinese travel abroad for holidays

SHANGHAI, China: Chinese officials report that 100 million people are traveling daily during the ongoing Golden Week holiday. Three times ...

In $10 billion deal, China Eastern Airlines to acquire 100 more planes

BEIJING, China: In a deal worth US$10 billion at list prices this week, state-owned carrier China Eastern Airlines announced that ...

Angola introduces visa-free travel for Russians Izvestia

The measure went into effect last month following a presidential decree, according to Moscow's ambassador to the African nationAngola's government ...

World Bank sees 5.8 pc growth in South Asia in 2023 fiscal

Washington [US], October 3 (ANI): South Asia is expected to grow by 5.8 per cent in the financial year 2023, ...

Travel and Tourism

Section