# GlobalFoundries Breaks Ground on First Fab in Two-Factory Malta Plan By John Kim Canonical URL: https://www.tokenpost.com/news/business/56901 Published: 2026-11-13T17:01:14.000Z Updated: 2026-11-13T17:01:14.000Z Section: Business > The Malta, New York, project is the first of two facilities planned under a U.S.-Japan initiative. GlobalFoundries has targeted 2029 for the first fab to begin operations. GlobalFoundries has begun construction on a semiconductor plant in Malta, New York, marking the first physical step in its two-facility plan under a U.S.-Japan initiative. GlobalFoundries executives attended the Friday, Nov. 13, groundbreaking with U.S. and Japanese government officials. The new facility is the first in the company’s [two-factory plan for Malta under the U.S.-Japan agreement](). GlobalFoundries has targeted 2029 for the first fab to begin operations. The broader arrangement could involve up to $21 billion in Japanese funding. About $10 billion is associated with the first fab; another $10 billion could support a second facility, but that funding has not been confirmed. Each factory could add capacity for about 900,000 wafers annually at full operation. If both are completed and reach full operation, they could add about 1.8 million wafers of annual capacity. The plan is intended to serve automotive, industrial and connected technology customers. ## Links in this article - [two-factory plan for Malta under the U.S.-Japan agreement](https://www.tokenpost.com/news/business/32030)