SINGAPORE Sept 12 Reuters GlobalFoundries, the world39;s thirdlargest contract chipmaker, opened a 4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion.

The U.S chipmaker39;s new 23,000 square meters 248,000 square feet facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by 2025 to 2026, and will create 1,000 jobs, the company39;s Singapore general manager Tan Yew Kong told reporters.

If we run the Singapore campus39; capacity to the fullest, that will probably be around 45 of revenue for GlobalFoundries, he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024.

The company39;s Singapore operations, which serve 200 clients worldwide, also include two other fabs that produce 720,000 300mm wafers and 692,000 200mm wafers a year respectively. The chips are used in cars and 5G technology.

GlobalFoundries announced a 6 billion global expansion in 2021 amid a chip shortage during the pandemic that has since reversed into a surplus.

One of GlobalFoundries39; biggest clients is Qualcomm , which said on Monday it had signed a deal with Apple