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Samsung to pick Taylor, Texas, for its $17 bln chip plant – WSJ

Nov 23 (Reuters) – South Korean tech big Samsung Electronics Co Ltd (005930.KS) stated on Tuesday it had not made a closing determination on the situation of a brand new $17 billion chip plant within the United States, after the Wall Street Journal reported it could be Taylor, Texas.

The WSJ stated Texas Governor Greg Abbott was scheduled to make an “economic announcement” on Tuesday at 5 p.m. (2300 GMT).

A website in Texas’s Williamson County, close to the town of Taylor, provided the perfect incentives package deal of the websites Samsung was contemplating, sources beforehand instructed Reuters. learn extra The world’s greatest reminiscence chipmaker has stated it’s also contemplating websites in Arizona and New York.

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The new plant is about to make superior logic chips used to energy cell gadgets and autonomous autos, as the worldwide auto trade faces a major semiconductor scarcity.

The manufacturing unit would mark Samsung’s second chip manufacturing unit in Texas, the place it already manufactures chips at a plant in Austin. learn extra

Samsung is becoming a member of rivals TSMC (2330.TW) and Intel (INTC.O) within the race to increase chip contract manufacturing within the United States, the place the sector is seen as an space of strategic competitors with China.

U.S. President Joe Biden’s administration has promised billions of {dollars} in federal funding to increase chip manufacturing and analysis to guarantee it has an edge over China in superior applied sciences and to handle shortages for crucial industries like autos. learn extra

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Reporting by Heekyong Yang in Seoul and Sabahatjahan Contractor in Bengaluru; Editing by Stephen Coates

The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. REUTERS/Kim Hong-Ji/Files

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