Globalfoundries, a microchip maker owned by Abu Dhabi, plans to pump US$3 billion (Dh11.01bn) into its manufacturing plants this year.
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The move should help to boost the capital's aim to develop a world-class technology industry in the emirate, experts say.
"Given the investment by the Abu Dhabi Government in the global industry, you'd hope there would be some trickle-down benefits from that for Abu Dhabi's future technology industry," said Dino Wilkinson, a communications specialist and partner at the law firm Norton Rose Middle East.
The majority of the investment is expected be spent on the company's high-tech factories in New York, Singapore and Germany.
"Globalfoundries plans to invest roughly $3bn this year to meet customer and technology demand," said Ajit Manocha, the chief executive of Globalfoundries.
It is believed much of this expenditure would be on new tools and development at the Globalfoundries' new microprocessor-fabrication plant in New York.
Globalfoundries said this week production of computer chips at the $4.6bn plant near Albany in New York state had commenced.
IBM has been named as the first client of the New York plant, which attracted $1.2bn in aid from New York state with the aim of boosting jobs. Mr Manocha declined to specify when production of IBM chips started, or what other electronics firms would use the New York fab.
"We are extremely pleased to be working with IBM on the manufacture of their new chip," he said.
"We also respect the confidential nature of the manufacturing process details, so we won't give any further details at this time on when and how the manufacturing process began," said Mr Manocha.
Just a small portion of the Globalfoundries investment this year will go towards planning a fabrication plant in Abu Dhabi.
Construction on the plant was scheduled to begin this year, but Globalfoundries said last November the work had been postponed.
Mr Manocha did not provide an update on when construction of the delayed plant in Abu Dhabi may begin. It was originally set for completion in 2015, and is planned to be the first microchip factory in the Middle East outside of Israel. An uncertain global economic outlook was cited by Abu Dhabi's Advanced Technology Investment Company (Atic) as the reason behind the postponement.
The Abu Dhabi fabrication factory plant is planned to be built near Abu Dhabi International Airport, at an estimated cost of between $6bn and $8bn.
Atic owns more than 90 per cent of Globalfoundries and is a wholly owned subsidiary of Mubadala Development, a strategic investment company owned by the Abu Dhabi Government.
Executives from Globalfoundries were present at the Consumer Electronics Show in Las Vegas, the world's biggest consumer electronics show. High-tech microchips are integral to the gadgets on show at the event, which include the latest TVs, smartphones and tablets.
Mr Wilkinson said Globalfoundries' investment "can only bode well for any plans it may have to bring that technology and business back to Abu Dhabi itself".
bflanagan@thenational.ae
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- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
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- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
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The seven points are:
Shakhbout bin Sultan Street
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Salama bint Butti Street
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Rabdan Street
Umm Yifina Street exit (inbound)
