SAN FRANCISCO—Advanced Technology Investment Co., the majority investor in Globalfoundries Inc., plans to spend up to $7 billion to build a semiconductor fab in Abu Dhabi, the capital of the United Arab Emirates, according to a report by the Wall Street Journal.
The story, based on an interview with ATIC CEO Ibrahim Ajami, says Ajami also said ATIC is open to acquisitions outside of the semiconductor foundry sector to strengthen its position in the chip business.
Ajami told The Journal that ATIC has targeted 2014 or 2015 to ramp up a 300-mm fab in Abu Dhabi, which would be operated by Globalfoundries.
Globalfoundries, which was formed in 2009 through the spinoff of Advanced Micro Devices Inc.'s manufacturing capabilities, operates seven fabs, including former AMD fabs based in Germany and several Singapore fabs, which were previously operated by Chartered Semiconductor Manufacturing Pte., which it acquired in early 2010. The company is also building a 300-mm fab in upstate New York.
Globalfoundries, bolstered by the deep pockets of ATIC, has quickly emerged to pose a technology and capacity challenge to Taiwan Semiconductor Manufacturing Co., the dominant player in the foundry market.