ATIC plans Abu Dhabi technology hub

Globalfoundries owner sees city as an industry leader.

Abu Dhabi's Advanced Technology Investment Company (ATIC) plans to create a regional technology cluster at a site close to Abu Dhabi International Airport.

The company is working on the project with Globalfoundries, a US-based semiconductor manufacturer it bought last year and which has announced its own capacity-expansion plans.

"The formation of the new Globalfoundries was predicated on creating a world-class technology and manufacturing company that had the scale and resources to compete for industry leadership in this capital intensive market," said Ibrahim Ajami, chief executive officer of ATIC.

"For ATIC, this also represented the first step in Abu Dhabi's vision to become a leader in the semiconductor industry."

Since buying Globalfoundries, ATIC has grown the business by buying and integrating Singapore's Chartered Semiconductor Manufacturing.