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TSMC to set up Arizona subsidiary with $3.5 billion capital
It was back in May earlier this year that it was confirmed that the semiconductor giant was planning to build and operate a manufacturing fab in Arizona, US. Now, the company is taking the next step in the project.
As previously reported by Evertiq, the to be built facility will utilise TSMC’s 5-nanometer technology and have a 20’000 semiconductor wafer per month capacity. The facility is also expected to create over 1’600 high-tech professional jobs.
On November 10th the company’s board of directors approved an investment to establish a wholly-owned subsidiary in Arizona, United States of America, with a paid-in capital of USD 3.5 billion.
This investment is part of the plan that was announced back in May when TSMC said it would spend about USD 12 billion from 2021 to 2029 on the project. The plan is currently to start construction of the fab in 2021 with production targeted for 2024.
