Oct 28 (Reuters) - U.S. chipmaker GlobalFoundries ( GFS )

on Tuesday said it will invest 1.1 billion euros ($1.28

billion) to expand manufacturing capabilities at its German

facility as it looks to increase production.

The Dresden site investment will expand the production

capacity to exceed one million wafers annually by the end of

2028, the chipmaker said in a statement.

"As a part of the project, the facility will be upgraded to

offer end-to-end European processes and data flows for critical

semiconductor security requirements," GlobalFoundries ( GFS ) said.

The expansion project, named SPRINT, is expected to be

supported by the German federal government and the State of

Saxony under the framework of the European Chips Act.

European Union approval for the full program is expected

later this year, GlobalFoundries ( GFS ) added.

The German government is expected to support the expansion

of the production site with several hundred million euros,

Handelsblatt had reported in June.

The chipmaker has invested more than 10 billion euros in the

Dresden site since 2009.

($1 = 0.8575 euros)