Business News
Taiwan's TSMC approves billion-dollar expansion
Aug 10, 2010, 15:38 GMT
Taipei - The Taiwan Semiconductor Manufacturing Corp (TSMC), the world's largest contract chip maker, on Tuesday announced that it would invest 1.97 billion US dollars to expand production.
Some of the money will be used to increase the advanced process technology capacity at TSMC's 12-inch chip plant. The company's board also approved allocating 369 million US dollars to continue with the construction of another 12-inch chip plant.
The board additionally backed a capital injection of 225 million US dollars into TSMC China Co Ltd, and 144 million US dollars in increased funding for its research and development fund.
The board also endorsed about 320 million US dollars in spending to develop new businesses, including the creation of a LED production line and a plant to make thin-film solar photovoltaic modules.
Established in 1987, TSMC is the world's largest semiconductor maker, with production sites in Taiwan, the United States, Singapore and China.
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