New Delhi: Samsung Electronics is set to announce its new $17 billion chip manufacturing plant in Taylor City, Texas on Tuesday (US time), as global semiconductor companies engage in increasingly fierce competition amid the global chip crisis.
According to a report in The Wall Street Journal citing people familiar with the matter, “an announcement could come as early as Tuesday” as Texas Governor Greg Abbott made an “economic announcement” at 5 p.m. (US time) on Tuesday. were about to do
The new advanced chip-making plant, about 1,200 acres in size and larger than Samsung’s Austin plant, could create 1,800 jobs.
However, according to previous filings, the plant is not expected to actually start producing chips until late 2024.
Samsung Electronics, the world’s largest memory chip and mobile phone maker, is considering building a new plant near the existing plant in Austin, which opened in 1996.
But a major power outage caused by a cold wave and blizzard in the region in February cost the company millions of dollars and raised concerns over a stable power supply.
The city of Taylor in Texas, which has a population of about 18,000, is currently considered the frontrunner to be home to the new plant, Yonhap News Agency reports.
It has offered the tech giant a slew of incentives, including tax exemptions, for a project that will bring in nearly 1,800 jobs and other opportunities.
According to a resolution passed by Taylor’s city council, a 6-million-square-foot chip manufacturing factory, when built, will produce the “most advanced” type of semiconductor by the end of 2024. Construction is expected to begin in early 2022.
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