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Tue 8 Mar 2011 08:45 PM

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Mubadala's tech unit eyes $6bn semiconductor factory

Advanced Technology Investment Company says it will bring the high-tech plan online in 2015

Mubadala's tech unit eyes $6bn semiconductor factory
Mubadala CEO Khaldoon Al Mubarak

The technology unit of the

Abu Dhabi government's investment fund Mubadala will build a $6bn semiconductor factory as part of the emirate's broader

plan to diversify its economy away from oil, a company official

said on Tuesday.

The Advanced Technology Investment Company (ATIC) will bring

the plan online in 2015, which will be run by a subsidiary,

Global Foundries.

ATIC holds a 86 percent stake in silicon wafer maker Global

Foundries, with Advanced Micro Devices holding the rest.

"The region is savvy and tech-hungry and ATIC's plans helps

drive the 2030 vision of Abu Dhabi's diversification," said the

official, who asked not to be named. "The goal is for Global

Foundries to be financially sustainable."

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