• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

China’s SMIC to invest $8.87 billion for new chip plant in Shanghai

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

SHANGHAI (Reuters) – China’s Semiconductor Manufacturing International Corp will invest $8.87 billion to build a chip plant in Shanghai, it said on Friday, expanding capacity amid a global chip shortage as Beijing pushes to boost independence in the sector.

The expansion by China’s largest chipmaker comes as the shortage rattled the automotive and electronics industries, spurring new capacity plans by firms like Taiwan Semiconductor Manufacturing Corp Ltd and GlobalFoundries.

SMIC said it agreed to build a production line with monthly capacity of 100,000 12-inch wafers in the Lingang Free Trade Zone (FTZ) in the Pudong district of China’s business hub.

The plan will focus on integrated circuit foundry and technology services on process nodes for 28-nanometers and above, backed by a joint venture majority-owned by SMIC.

The joint venture partner is the Lingang FTZ, and the company said it would seek other investors in the firm with registered capital of $5.5 billion.

Other companies with plants in the zone are Contemporary Amperex Technology Co Ltd and Tesla.

SMIC is partly backed by China’s state-affiliated chip fund.

In the last decade, the government has poured billions from the fund into helping domestic chip companies catch up with global rivals in the Japan, Korea and the United Staets, though SMIC lags counterparts there. SMIC’s unveiling of the new fab follows similar expansion plans in recent months for new plants in Shenzhen and Beijing.

The firm is also on a U.S. government blacklist that denies it advanced manufacturing equipment from U.S. suppliers. The United States cited national security concerns and SMIC has denied having ties to China’s military.

The measures disrupted the company’s plans to move into high-end chip making, but its financial performance has been strong as the chip shortage has boosted demand.

(Reporting by Josh Horwitz; Editing by Clarence Fernandez)

Source Link China’s SMIC to invest $8.87 billion for new chip plant in Shanghai

David Barret
David Barret

Related posts:

  1. Taliban prepare to reveal new Afghan government amid economic turmoil
  2. Deutsche Bahn takes striking train drivers’ union to court
  3. Singapore PM wins more defamation suits against bloggers
  4. Vietnam PM warns of long coronavirus fight as crisis deepens

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • The Life And Death Of David Vetter, The Boy Who Lived His Whole Life In A Bubble
  • Time’s Arrow Within Glass Appears To Go Both Ways, Raising Huge Questions
  • World’s “Oldest Baby” Born From Embryo Frozen In 1994 In New World Record
  • What Can Spain’s “Tunnel Of Bones” Tell Us About The Fate Of Human Species On The Brink Of Extinction?
  • Rhino Horns Go Radioactive As Anti-Poaching Project Gets Off The Ground
  • Manta Rays Officially Get Third New Species – 15 Years After First Suspected
  • “Space Hurricanes” Are Happening At Earth’s Poles – And They Can Affect GPS Signals
  • There Is A Crucial Reason Why We Will Never See The Big Bang Directly With Our Telescopes
  • How Does An MRI Machine Work?
  • Catch A Glimpse Of One Of The World’s Rarest Sharks In Dreamy New Footage
  • A One-Shot Vaccine For HIV Might Actually Be On The Cards
  • Chikungunya Virus Is Spreading In China: As CDC Considers Travel Advisory, Here’s What To Know
  • First-Of-Its-Kind Vagus Nerve Implant Gets FDA Approval As A Therapy For Rheumatoid Arthritis
  • First Time Crystal Made Of “Exotic” Giant Atoms 1,000 times Larger Than Hydrogen
  • Prehistoric Humans Began Eating Tubers 700,000 Years Before Our Teeth Evolved To Do So
  • The World’s Oldest Wild Bird “Surprised” Everyone With A Hatched Chick At 74
  • “Spectacular” New Species Of 40cm Giant Stick Insect May Be Australia’s New Heaviest Insect
  • What Is “Nobel Disease”, And Why Do So Many Prizewinners Go On To Develop It?
  • New Human “Mini-Brains” Combine Cells From The Whole Brain – Even The Blood Vessels
  • Aging NASA Spacecraft Could Intercept The Interstellar Comet On The Other Side Of The Sun, Astronomers Suggest
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version