Shanghai, China
Semiconductor Manufacturing International Corp (SMIC), one of China’s biggest semiconductor manufacturers, announced an investment to set up a wafer production line in Shanghai.
The company established a joint venture (JV) with China (Shanghai) Pilot Free Trade Zone Lin-Gang Special Area Administration contributing 51% or $8.87 billion in the production of integrated circuit and technology services on process nodes for 28 nanometres and above.
Shanghai Municipal People’s Government will contribute 25% of the registered capital of the JV, which is $5.5 billion. The entities are seeking third-party investors for the remaining 24%.
SMIC said that the new production line would have a capacity of 100,000 12-inch wafers a month. The company has wafer fabrication facilities in Shanghai, Beijing, Tianjin and Shenzhen. SMIC looks to expand its production scale, advance its nanotechnology services and achieve a higher return through the investment.
SMIC recently announced that Zhou Zixue resigned as Chairman, citing personal health reasons. CFO Gao Yonggang was appointed as the acting Chairman.
Source – Capital.com
Image Source: SMIC Website
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