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 Sierra Leone Times.

More Information

32 ℃

Mostly Cloudy in Seletar

Business

Section

Japanese startup develops robot resembling 'Mobile Suit Gundam'

TOKYO, Japan: Tokyo-based startup Tsubame Industries has developed a four-wheeled robot that resembles the "Mobile Suit Gundam" from the popular ...

Gold Rush: Federal Government's bold move to attract Saudi investment in Reko Diq

ISLAMABAD, Pakistan - According to The News, the federal government is considering selling its stake in the Reko Diq project ...

Nasdaq dives 248 points as interest rates reach for the stars

NEW YORK, NEW YORK - U.S. stocks tumbled on Tuesday as interest rates on 10 and 30-year Treasury yields approached ...

Chief medical officer warns of levels of Cannabis use in Ireland

DUBLIN, Ireland: The chief medical officer has issued a stark warning regarding the alarming levels of cannabis consumption in Ireland, ...

Deal unlikely to stop strike, say Kaiser Permanente workers' unions

OAKLAND, California: As their current contract expires and their unions prepare to strike, Kaiser Permanente workers' representatives said, on September ...

In the midst of slowdown, eurozone inflation hits a two-year low

FRANKFURT, Germany: Inflation in the eurozone hit a two-year low in September, signaling that the European Central Bank's (ECB) strategy ...

Africa

Section