Samsung’s new $17 billion chip factory could begin production in third quarter in the US

Last month, it is said that Samsung is considering to spend $17 billion to build a new chip factory in the United States. Moving ahead, South Korean media recently reported that the company will announce its plan to build a new chip factory at the end of this month.

According to the information, Samsung Electronics projects to establish a new chip factory in the United States, which will start construction in the third quarter of this year and will begin production after completion. This new chip plant will surely help the industry to get recovered from the global chip shortage.

It will take some time for Samsung Electronics’s plant to be completed and put into production as the chip production plant is relatively complex and requires a lot of advanced equipment. The report further suggested that Samsung aimed to put it into operation in 2024.

Apart from this, the South Korean tech giant is expected to build a chip factory in Austin Texas, while it already has a chip factory in operation in Austin. Moreover, some documents show that Austin is one of the potential areas for Samsung to consider building a new chip factory with a $17 billion investment and it will create 1800 new jobs.

Samsung is the only South Korean company that participated in the White House online meeting last month to discuss the global semiconductor shortage. According to reports, the company has been re-invited to participate in a virtual meeting hosted by U.S. Secretary of Commerce Gina Raymondo on Thursday.

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