- Taiwan’s ministry of economic affairs, which must authorise major overseas investments by Taiwan companies, said that it had approved TSMC’s application for the investment
- The company said that construction of the Arizona facility would start in 2021, with production aimed to begin in 2024, producing up to 20,000 silicon wafers a month
As per a report by Reuters, Taiwan Semiconductor Manufacturing Co Ltd has received government approval to go ahead with the first phase of a new plant in the U.S. state of Arizona with an initial investment of $3.5 billion. It added that Taiwan’s ministry of economic affairs, which must authorise major overseas investments by Taiwan companies, said that it had approved TSMC’s application for the investment.
$12 billion factory in Arizona
The report added that it is a part of a plan TSMC announced in May to build a $12 billion factory in Arizona. It plans to set up a 12-inch wafer fabrication plant in Phoenix, Arizona. It is expected to start volume production in 2024, Taiwan’s investment commission of the ministry of economic affairs said in a statement.
The report added that TSMC manufactures the bulk of its chips in Taiwan. It has older chip facilities in China and Washington. As per the report, the company said that construction of the Arizona facility would start in 2021, with production aimed to begin in 2024, producing up to 20,000 silicon wafers a month.
