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Mubadala-owned semiconductor firm GlobalFoundries and its partners have broken ground on a $4bn semiconductor fabrication facility in Singapore.

GlobalFoundries has partnered with Singapore Economic Development Board and “committed customers” to expand its manufacturing capacity to meet growing demand.

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When complete, the facility will expand GlobalFoundries’ Singapore capacity by 450,000 wafers a year taking the total capacity to 1.5 million of its 300mm wafers a year.

The global demand for semiconductor chips is expected to increase 2.1 times in the next eight years.

Semiconductor chips are used from smart phones to automobiles.

The so-called fourth industrial revolution (4IR), the availability of fifth generation (5G) mobile communications network and the accelerated adoption of digitalisation post Covid-19 contribute to the global demand growth of semiconductor chips.

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In addition to GlobalFoundries, Mubadala’s technology portfolio includes a significant stake in US-based chipmaker Advanced Micro Devices, Al-Yah Satellite Company, Emirates Integrated Telecommunications Company (Du), and most recently, Abu Dhabi-based G42.

READ: Abu Dhabi’s technology pivot is hard to ignore