China's Biggest Chipmaker to Invest $8.87 Billion In Shanghai Plant
NDTV
"The new plant in Shanghai will produce about 100,000 12-inch wafers per month," SMIC said in filing to the Hong Kong stock exchange.
China's biggest chipmaker said Friday it would invest $8.87 billion in a new semiconductor plant in Shanghai, as Beijing is hit by a US blacklist and a global chip shortage. The country is running extremely low on advanced microchips following a US ban on many sales to the country, and after production lines were hit by the Covid-19 pandemic. The US government blacklisted Semiconductor Manufacturing International Corp (SMIC) last September over security concerns, denying it access to advanced manufacturing equipment from American suppliers. On Friday SMIC -- which has denied links to the Chinese military -- said it would pour investment into a new chip plant in the east of the country.More Related News