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TSMC to build new chip factory in Taiwan’s southern city amid shortage -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Taiwan Semiconductor Manufacturing Co.’s logo (TSMC) can be seen at its headquarters in Hsinchu Taiwan on Jan. 19, 2021. REUTERS/Ann Wang/File Photo

TAIPEI, Reuters – Taiwan Semiconductor Manufacturing Co. (TSMC), announced Tuesday that it would set up a new Chip Factory in Kaohsiung to meet the demands of a worldwide chip shortage.

TSMC (NASDAQ:) is a significant Apple supplier. In a statement, TSMC stated that the new chip manufacturing plant will make advanced 7-nanometer chips and mature 28-nanometer silicon.

The factory construction will start in 2022. Production is planned for 2024.

The company did not say what amount it planned to spend to build the new facility.

Taiwanese chip maker TSMC has been a key player in efforts to address a worldwide shortage of chips. This has caused global production to be halted and has impacted the performance of consumer electronics companies around the world.

Japan’s earlier Tuesday morning announcement Sony (NYSE:) Group announced that it will invest approximately $500 million in a joint venture in Japan with TSMC to build a $7 Billion chip plant. It plans to use its 22-nanometer- and 28-nanometer-based technology.

TSMC is investing $100 billion to increase chip capacity over the next 3 years and has begun construction of a $12 million chip fabrication facility in Arizona.

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