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29 Sept 2021
Samsung Electronics to Build Chip Plant Factory in TX worth $17 Billion
The Index Today
Samsung Electronics Co Ltd is in the final stages of completing a $17 billion construction deal for a semiconductor factory in Williamson County, Texas. The company has made sure it will take all reasonable yet necessary steps to meet legal requirements of the state before taking any final decision.
According to state filings, the new factory will be set up to manufacture advanced logic semiconductor chips and will help create around 1,800 new jobs.
Samsung has said it may start construction on the 6-million square foot factory project in January which will be in running order by the end of 2024. However, no official date or decision has been put forward yet. The Austin Suburban area of Williamson County is among the chosen locations for the factory due to the available subsidiaries and reliable sources for water and electricity.
Park Sung-soon, analyst at Cape Investment Securities said, “With the united states turning semiconductors into a strategic material, it is becoming a risk to be concentrated only in Asia. Samsung wants to be on the ground in the U.S.”
Samsung ranks as the second just before TSMC in the global chip manufacturing industry, having a total market share of 17.3% according to data released by TrendForce.