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Samsung Electronics close to finalising $17 billion Texas chip plant -sources By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The company logo is seen at its factory in Tijuana (Mexico), June 1, 2019. REUTERS/Jorge Duenes/File Photo

SEOUL (Reuters) – Samsung Electronics (OTC:) Co Ltd is close to finalising the construction of a second, $17 billion semiconductor factory in Williamson County in the U.S. state of Texas, three people with knowledge of the matter said.

Samsung (KS) stated to Reuters it continues due diligence at multiple locations and has not made a decision.

According to Samsung filings, the factory is expected to produce advanced logic semiconductor chips. It will also create approximately 1,800 jobs.

Although no decisions have been made yet, one person stated that Austin’s suburb of Williamson County was the preferred choice due to both the subsidy available and the possibility of reliable water sources.

An equivalent of 300 billion-400 billion won (254 million to $239 million) damage was caused to wafer production by the winter storm that struck Samsung’s Austin chip factory.

None of the three men could be identified because they weren’t allowed to talk to media.

($1 = 1,179.6200 won)

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