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Samsung To Build New $17bn Chip Plant In Texas

Samsung To Build New $17bn Chip Plant In Texas

Samsung has disclosed its resolve to build a new $17bn chip plant in Texas, the South Korean electronics giant’s biggest-ever US investment.

Gatekeepers News reports that the new plant is expected to create 2,000 technology industry jobs, with construction starting early 2022. It is expected to be operational by the second half of 2024.

Samsung, like several of its rivals, is racing to expand chip making in the US to tackle supply chain issues.

“With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain,” Kinam Kim, chief executive of Samsung electronics device solutions said.

The development comes amid American President, Joe Biden’s push for chip giants to increase their production in the country.

White House officials said the new facility would help “protect our supply chains, revitalise our manufacturing base and create good jobs”.

“Increasing domestic production of semiconductor chips is critical for our national and economic security,” US Commerce Secretary Gina Raimondo said separately.

The Republican governor of Texas, Greg Abbott, tweeted “Welcome to Texas, Samsung!”, as he posted photographs of an event to announce the plan.

Another statement from the governor’s office said the company would get a $27m grant for creating jobs in the state.

Gatekeepers News reports that the chips made at the new facility will be used in a range of technologies including mobile, 5G, high-performance computing and artificial intelligence.

The latest announcement, according to the company, takes its total investment in the world’s biggest economy to $47bn.

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