The oil rich emirate of Abu Dhabi is looking to create a regional semiconductor hub in a bid to diversify its economy.
Ibrahim Ajami, chief executive of Advanced Technology Investment Company (ATIC), told a press conference at the Computex trade show in Taiwan that it is seeking to build a facility on a three-kilometre piece of land near the city's international airport, the Financial Times reports.
Beyond setting up infrastructure, he suggested that ATIC would be exploring ways to start attracting other semiconductor companies from around the world to the Gulf state.
He stressed that its oil wealth has provide riches, but as that resource runs out plans should be in place to bring new revenue into its economy.
The company has already linked up with Advanced Micro Devices in the US and bought a majority share in Singapore-based Chartered Semiconductor making it the second largest organisation in the global sector.
ATIC is a specialist investment company set up by the Abu Dhabi government to focus on the advanced technology sector.