The 10,000-square metre addition to the factory, dubbed “Fab1,” will increase production to a maximum of 80,000 silicon chips per month, company head Doug Grose said at the event.
The production level will “support the growth of our customers for many years,” he added.
The €1.2-billion investment will also bring some 400 new jobs to Dresden, which state premier Stanislaw Tillich called the greatest contribution to eastern German commerce this year.
According to company estimates, Global Foundries is the world’s largest independent semiconductor foundry, with another two factories in Singapore, and New York.
It currently employs 2,700 workers in Dresden.