ATIC plans to build $7 billion chip fab in Abu Dhabi

GlobalFoundries co-owner ATIC has plans to build a $7 billion chip manufacturing plant in Abu Dhabi. The plant will use 300mm wafer manufacturing and is expected to be ready for mass production between 2014 and 2015. Moreover, CEO Ibrahim Ajami also revealed that ATIC is open to acquisitions beyond contract chip manufacturing to further strengthen its position in the semiconductor market.

Abu Dhabi government-owned Advanced Technology Investment Co (ATIC) will spend as much as $7 billion to build a chip manufacturing plant in the emirate, the Wall Street Journal reported citing an interview with its chief executive officer.

Ibrahim Ajami said the new facility will ramp up its production between 2014 and 2015. The plant would be a 12-inch wafer fabrication facility, the industry's most advanced. The new plant would be the first chip manufacturing facility in the United Arab Emirates.

Source: Yahoo News