November 23, 2021
1 min read

Samsung to launch $17 bn chip plant in US

The new advanced chip-making plant, roughly 1,200 acres in size and making it larger than Samsung’s Austin plant, could create 1,800 jobs. …reports Asian Lite News

 Samsung Electronics was set to announce its new $17 billion chip fabrication plant in the city of Taylor in Texas on Tuesday (US time), as global semiconductor companies have engaged in increasingly fierce competition amid a global chip crunch.

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 was scheduled to make an “economic announcement” on Tuesday at 5 pm (US time).

The new advanced chip-making plant, roughly 1,200 acres in size and making it larger than Samsung’s Austin plant, could create 1,800 jobs.

However, the plant isn’t expected to actually start producing chips until the end of 2024, according to previous filings.

Samsung Electronics, the world’s biggest memory chip and mobile phone maker, has been considering building a new plant near the existing one in Austin, which opened in 1996.

But a major power outage caused by a cold wave and snowstorm in the area in February caused the company millions of dollars in losses and raised concerns over a steady electricity supply.

The city of Taylor in Texas, with a population of around 18,000, is currently considered the front-runner in the race to become home to the new plant, reports Yonhap news agency.

It has offered the tech giant a set of incentives, including tax rebates, for the project that is anticipated to bring approximately 1,800 jobs and other opportunities.

According to a resolution passed by Taylor’s city council, a 6 million square feet chip fabrication factory, when built, will produce “the most advanced” type of semiconductors by the end of 2024. Construction is expected to start in early 2022.

ALSO READ: Tanishq To Add Three More Stores

Previous Story

A New Era of Connectivity in J&K

Next Story

Nepal, India agree to recognise Covid vax certification

Latest from -Top News

Turkey’s Jet Roars, West Watches

It is visible that Turkey is intentionally reducing reliance on U.S. and Western military imports, especially F-16s and the failed F-35 partnership, to achieve strategic independence….writes Ankit V In 2016, Ankara announced

‘Op Sindoor’ Team Wraps Up Saudi Visit

The visit reaffirmed the shared commitment of India and Saudi Arabia in the fight against terrorism….reports Asian Lite News Riyadh, May 30 (IANS) The Indian all-party delegation, led by BJP MP Baijayant

Visa Interview Pause Nearing End, Says US

India is the source country for the largest group of international students in the US and Bruce’s comments will be closely followed there….reports Asian Lite News The United States said the pause

No Talks Till Terror Ends: India to Pakistan

The MEA’s strong response came at a time when Pakistan, pushed on the backfoot by India’s decisive Operation Sindoor, has suddenly started talking about its intent on having peace talks with India….reports

BNP ramps up poll demand

Chief Adviser Yunus had earlier promised elections in December 2025, but the timeline has since been pushed back first to February 2026 and then to June 2026, fuelling suspicion and dissatisfaction among
Go toTop

Don't Miss

Samsung Vows to Keep Tech Crown

For its mobile, home appliances and software division, a customer-first

Samsung seeks synergy with Indian startups

Samsung said it will also explore funding support to some