SINGAPORE - GlobalFoundries, one of the world's top five largest contract chipmakers, launched a $4 billion fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion.

With its new 23,000 square meters (247,570 square feet)facility, the U.S chipmaker said it will produce an additional 450,000 300mm wafers per year and create 1,000 jobs.

Its Singapore operations, which serve 200 clients worldwide, produce 300mm wafers and 200mm wafers, which are used in cars and 5G technology.

Some of GlobalFoundries' biggest clients include Qualcomm, which said on Monday it had signed a deal with Apple to supply 5G chips until at least 2026.

The city-state's overall semiconductor output, which makes up 11% of the global semiconductor market, is set to grow, as more chipmakers are set to either open or expand operations in the coming months.

  - Reuters