Samsung Electronics Confirms $17 Billion New Chip Plant in Texas

   By Kwanwoo Jun

Samsung Electronics Co. has confirmed its plan to build a $17 billion new chip-making plant in Taylor, Texas, as the Biden administration is pushing to expand semiconductor production on U.S. soil.

The South Korean tech giant in a regulatory filing early Wednesday said the planned investment aims to meet the demand for advanced system semiconductors and help stabilize global chip-supply chains.

Samsung Electronics said it plans to break ground for the new plant in the first half of 2022 and start mass production in the second half of 2024.

The Wall Street Journal earlier reported Samsung Electronics's planned investment on the Taylor facility, located in central Texas, which could create around 1,800 jobs.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

November 23, 2021 19:01 ET (00:01 GMT)

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