Globalfoundries delays Abu Dhabi megaplant

Posted on Friday, November 25 2011 @ 22:51 CET by Thomas De Maesschalck
ATIC CEO Ibrahim Ajami told the press that Globalfoundries will not start construction on a new megafab in Abu Dhabi in 2012 due to the uncertain economic outlook. The decision will be reevaluated at a later time.
Back in May 2011 it was reported that Globalfoundries (Milpitas, Calif.) was planning to spend between $6 billion and $8 billion building a wafer fab in Abu Dhabi with groundbreaking to take place in 2012 and chip production scheduled to start in 2015. Meanwhile the foundry is constructing a wafer fab in Malta, Saratoga County, New York. That plan has been put on hold with a re-assessment to come some time in 2012, the report said.

Globalfoundries was formed by the spin-off of manufacturing facilities belonging to processor company Advanced Micro Devices Inc. and the acquisition of Chartered Semiconductor Manufacturing Pte. Ltd. This provided Globalfoundries with close to leading-edge production facilities in Dresden, Germany and Singapore. The money for the purchases came from Advanced Technology Investment Company (ATIC), a sovereign wealth fund owned by the government of the Emirate of Abu Dhabi and Globalfoundries is 91 percent owned by ATIC.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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