Singapore–EDB Investments Pte Ltd. (EDBI), the Singapore Economic Development Board’s investment arm, today announced that it has confirmed a 15% equity stake in United Microelectronics Corp.’s (UMC) independent foundry company in Singapore. EDBI joins Infineon Technologies AG as a shareholder in the advanced US$3.6 billion 300mm facility, in which UMC holds a majority stake. This venture is the largest single manufacturing investment into Singapore.

“We are pleased that EDB Investments Pte Ltd. has joined UMC as a strategic equity partner for the development of UMC’s wafer fab in Singapore,” says John Hsuan, chairman of UMC. “The EDB has shown tremendous support in helping to establish this facility, and becoming a direct stakeholder of UMC’s Singapore project will allow EDB to participate in the success of this promising new enterprise.”

“This strategic partnership will propel Singapore into the next phase of advanced semiconductor fabrication and help us to remain at the forefront of technology,” says Liow Voon Kheong, general manager of EDBI. “The number and types of jobs to be created, extent of knowledge transfer, and the numerous other economic spin-offs from this venture will significantly add to the existing solid infrastructure of more than a dozen advanced semiconductor wafer fab projects in Singapore. We look forward to greater cooperation with UMC in this successful venture.”

Groundbreaking for the wafer fab, located in Singapore’s Pasir Ris Wafer Fab Park, is scheduled for later this quarter with initial equipment move in expected in Q3 2002.