The board of directors of the world's largest chip producer Taiwan Semiconductor Manufacturing Co. (TSMC) has approved a $3.8 billion investment in building a fabrication plant in Germany, the company said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 08th August, 2023) The board of directors of the world's largest chip producer Taiwan Semiconductor Manufacturing Co. (TSMC) has approved a $3.8 billion investment in building a fabrication plant in Germany, the company said on Tuesday.
German media reported on Monday that all formalities around the opening of a TSMC plant in Dresden had been finalized, including a 5 billion euro ($5.5 billion) investment from the German government, and only the company's board's final go-ahead was pending before building what would become the Taiwanese chip giant's first plant in Europe.
"(The board) Approved an equity investment of not more than ��3,499.93 million (approximately $3,884.9 million) to a TSMC-majority-owned subsidiary, European Semiconductor Manufacturing Company (ESMC) GmbH, in Germany to provide foundry services," the company said in a statement.
Negotiations between TSMC, its partners and the German government reportedly lasted for over a year. TSMC is expected to run the Dresden plant as a joint venture with German engineering and technology company Bosch, semiconductor manufacturer Infineon and Dutch semiconductor designer and producer NXP Semiconductors.
