Taiwan’s TSMC signs deal for US$3bil plant in China

The logo of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is seen at its headquarters in Hsinchu, northern Taiwan, in this November 19, 2015 file photo. Some of Apple Inc's main Asian suppliers expect revenues and orders to drop this quarter, indicating iPhone sales are almost certain to post their first annual decline since the flagship product was launched almost a decade ago. REUTERS/Pichi Chuang/Files

TAIPEI: Taiwan Semiconductor Manufacturing Company has signed a deal to build a US$3bil (RM11.99bil) plant in China, the island’s largest outbound investment on the mainland. 

The firm, which counts Apple as a client and in revenue terms is the world’s top microchip maker providing tailor-made services, will set up the factory in Nanjing, the company said in a statement.