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 Oklahoma City Sun.

More Information

87 ℉

Fair in Oklahoma City

Business

Section

U.S. stocks make minor gains, Nasdaq Composite climbs 60 points

NEW YORK, New York - With no major news Monday, and nothing on the horizon, U.S. stocks remained little moved, ...

US Federal Reserve cutting 300 people from payroll

WASHINGTON D.C.: In a small but rare reduction to its headcount, which has grown steadily since 2010, the US Federal ...

Rite Aid may close over 400 stores, allow creditors to run operations

CAMP HILL, Pennsylvania: This week, the Wall Street Journal (WSJ) reported that Rite Aid could shut down some 400 to ...

US Transportation Secretary says New York's ATC needs more staff

WASHINGTON D.C.: U.S. Transportation Secretary Pete Buttigieg has criticized the air traffic control staffing shortages in New York as "unacceptable" ...

Will 'quiet the noise' in culture wars, Disney CEO tells investors

BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors ...

$14 billion takeover bid by JIP a success: Toshiba

TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...

International

Section