CHENGDU, Feb. 10 (NBD) -- GLOBALFOUNDRIES & Chengdu 12 Inch Wafer Fab Project Signing Ceremony and Groundbreaking Ceremony are held on Friday in Chengdu Hi-tech Industrial Development Zone, Southwest China's Sichuan Province. 

As the worldwide semiconductor wafer foundry leader, GLOBALFOUNDRIES published its global manufacturing business expansion plan on Friday. The project for 12 inch wafer fab production in Chengdu represents the company's largest plant of state-of-the-art technologies in China, with total investment of over 10 billion US dollars. 

CEO of GLOBALFOUNDRIES Sanjay Jha indicated that from the world-class RF-SOI platform used for wireless Internet devices, to the technical roadmaps of the state-of-the-art FD-SOI and FinFET, they all serve as evidence to the market's tremendous demands for our main staple and progressive technologies. The construction of the 12 inch wafer plant in Chengdu Hi-tech Industrial Development Zone will be conducive to accelerating the company's expansion in Chinese market.

The project will facilitate the transformation of local skills towards world leading standard in Sichuan Province and shape an industrial scale of over 300 billion yuan (44 billion US dollars) in the area.

As home to one of China's most prominent IT industry clusters, Chengdu Hi-tech Industrial Development Zone hosts a plethora of global IT giants including Intel, Texas Instrument, AMD, MediaTek, Dell, Lenovo and Foxconn, as well as 115 of the Fortune Global 500 companies.

GLOBALFOUNDRIES also unveiled on Friday its brand new trade name for the Chinese market: "Ge Xin," and announced the establishment of a new joint venture -Gexin (Chengdu) Integrated Circuit Manufacturing Co., Ltd. In Chinese, the name "Ge Xin" shares the same pronunciation for the Chinese word for "innovation" and signifies rebirth, reinvigoration and reform.

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