The company's chief technology officer Jean-Marc Chery indicated that the firm might not make those new wafers itself and EE Times reports that the first offerings may come from the Global Foundries production facility in Dresden.
Global Foundries is, like ST, part of the International Semiconductor Development Alliance and the publication noted that the project may utilise one of the industry group's other facilities to start development.
Mr Chery told a gathering at the organisation's annual analysts' day that it is aiming for a five to seven per cent capex to sales ratio, as the firm is currently pursuing an "asset lighter" strategy.
ST is the world's fifth largest semiconductor company, generating net revenues of $8.5 billion (£5.9 billion) and serves a range of customers in different sectors including automotive, industrial and communications.
