Moneycontrol PRO
UPCOMING EVENT:Attend Traders Carnival Live. 3 days 12 sessions at Rs.1599/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsWorld

Samsung Electronics close to finalising $17 billion Texas chip plant

Samsung told Reuters that it is continuing due diligence in multiple locations, and that it has yet to make a decision.

September 29, 2021 / 10:04 AM IST

Samsung Electronics Co Ltd is close to finalising the construction of a second, $17 billion semiconductor factory in Williamson County in the U.S. state of Texas, three people with knowledge of the matter said.

Samsung told Reuters that it is continuing due diligence in multiple locations, and that it has yet to make a decision.

The factory will make advanced logic semiconductor chips and is likely to create about 1,800 jobs, Samsung previously said in filings to state officials.

One of the people said though no decision has been made, the Austin suburb of Williamson County is the frontrunner due to the subsidies on offer as well as the likelihood of stable sources of electricity and water.

A winter storm shutdown at Samsung’s existing chip plant in Austin during the first quarter caused the equivalent of 300 billion to 400 billion won ($254 million to $339 million) of damage to wafer production.

Close
All three people declined to be identified as they were not authorised to speak with media.
Reuters
first published: Sep 29, 2021 10:05 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark