SINGAPORE : Nasdaq-listed Applied Materials is pumping up to US$70 million into a new facility in Singapore.

Located at the Changi North Industrial Park, the new Asia Operations Centre will serve as a hub for the company's semiconductor and solar power businesses in the region.

"Our strategy for the company is to reach between US$13 billion and US$15 billion by 2010. As we ramp up our Asia Operations Centre, we expect 30 to 40 per cent of that revenue to move through Singapore," said Mike Splinter, President & CEO of Applied Materials.

The Singapore facility will focus on semiconductor equipment to cater to companies like Chartered Semiconductor, Infineon and other global semiconductor makers.

Lim Siong Guan, Chairman of the Economic Development Board, said: "The Asia Operations Centre is also expected to generate strong demand for local component suppliers and equipment contract manufacturers.

"This project will, therefore, create significant spin-offs to our supporting industry, and provide opportunities for them to upgrade, diversify and enter into new, high growth sectors."

The new 32,000-square metre facility will house various functions, including global purchasing, sales and manufacturing, to support the Asian chip and solar industries.

Construction of the facility is expected to be completed late next year. It will incorporate some of the highest environmentally-friendly building standards in the world, including Singapore's largest solar panel installation to date. - CNA /ls