Samsung to invest additional US$8bil in China memory plant


  • AseanPlus News
  • Saturday, 14 Dec 2019

BEIJING: Samsung Electronics will make an additional US$8bil investment in its memory plant in Xian, China, in a preemptive response to the projected growth of memory chip demand, according to news reports Saturday (Dec 14).

A Chinese media outlet reported that Samsung has officially decided to execute the investment for the Xian plant.

Samsung’s headquarters in Seoul, however, declined to confirm the investment plan.According to the report, the decision was revealed on Tuesday during a meeting between an executive from Samsung’s semiconductor business unit and Wang Hao, the communist party secretary of Xian.

Samsung had invested US$7bil to build the second memory factory in the city for the past three years.

The first round of the investment is expected to be completed by the first half of next year.If all goes as planned, the South Korean tech giant is injecting a total of $15 billion in the chip manufacturing facility in China.

Samsung has started mass production of first-generation V-NAND flash chips at its first plant in Xian in 2014. The company broke ground for the second plant in 2018.- Asian News Network
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Samsung , Electronics , Additional Funds

   

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