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FINANCIAL NEWS
ATIC to build $7b chip plant in Abu Dhabi
15 Sep 2010
(MENAFN) Abu Dhabi government-owned Advanced Technology Investment Co (ATIC) will spend $7 billion to build a chip manufacturing plant in the emirate, the Wall Street Journal reported.
The company’s Chief Executive Officer Ibrahim Ajami said the new facility will ramp up its production between 2014 and 2015. The plant would be a 12-inch wafer fabrication facility, the industry’s most advanced.
Ajami also said ATIC is open to acquisitions beyond the contract chip manufacturing business to strengthen its position in the semiconductor business.
The Abu Dhabi-based company bought Singapore’s Chartered Semiconductor for $1.8 billion last year and has a joint venture investment in semiconductor manufacturing company Global Foundries with Advanced Micro Devices.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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