GlobalFoundries announced plans to build a new semiconductor plant in New York State. Japan will invest up to $21 billion, approximately ¥3 trillion, and the plant is targeted to begin operations in 2029.
US semiconductor manufacturer GlobalFoundries (GF) has announced plans to build a new plant in New York State. Japan will make the investment, which is expected to total up to $21 billion, approximately ¥3 trillion.
Under the plan, approximately $10 billion will first be invested to build one plant, followed by a further investment of approximately $10 billion to build another. Operations are expected to begin in 2029.
GF said that semiconductor manufacturing equipment companies including Tokyo Electron will participate in the project, which will expand overall production capacity and support customers worldwide. Financing is expected to be provided through loans from JBIC and other Japanese government-affiliated financial institutions.