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Samsung announced detailed plans for $ 17 billion US chip factory

The South Korean tech giant has revealed more details about its plans to build a state-of-the-art chip factory in the United States in a filing with the Texas government.

This information came to light against the backdrop of the Joe Biden administration determined to make chip supply security a national priority for the United States.

Specifically, the Korean company plans to invest $ 17 billion in the Silicon Silver project and create around 1,800 jobs in the first 10 years. About $ 5.1 billion will be spent on building construction and renovating real estate, while the remaining $ 9.9 billion will be used to invest in machinery and equipment.

Samsung’s filing with the Texas government shows this project is a priority in the state. In addition, the Korean giant is also looking for backup locations in Arizona, New York and South Korea.

Samsung’s statement made under President Joe Biden’s administration in the first weeks of his tenure underscored the importance of advanced technologies, including semiconductor technology, intelligence, artificial and new generation networks. President Biden has also commissioned global supply chain assessments for several other sectors such as microchips, high capacity batteries, pharmaceuticals, key minerals and strategic materials such as rare earths.

In January, Bloomberg first said that Samsung was considering building a state-of-the-art chip factory in the United States in the hopes of acquiring more U.S. customers and closing the gap with Taiwanese chipmaker TSMC. Samsung is also in talks to build a factory in Austin capable of producing advanced 3-nanometer chips. Details of Samsung’s discussion with this local government continue to be disclosed in other files.

At present, the demand for chips is increasing globally. Samsung’s Silicon Silver project is expected to add more than 7 million square feet to its decades-old Austin campus. It is estimated that 542 new workers will move to the city, contributing to an increase of 1,626 new residents.

If Samsung decides to locate the plant here, the project will begin to be groundbreaking in the second quarter of 2021 and is expected to begin operations in the fourth quarter of 2023. This project will create strong economic impacts for the city of Austin in particular and for the State of Texas in general.

For now, Samsung’s large-scale Austin plant has not resumed operations since February 16 after the state’s electricity agency ordered them to suspend operations due to power outages. generalized. City officials said electricity could be replenished, but water still lost would delay the plant’s run time for longer.

The US state of Texas is experiencing a record snowstorm. The sharp drop in temperature and heavy snow cover interrupted many grid systems, leaving tens of thousands of people living without electricity. The frozen water also interrupted the water supply.

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