Samsung recently confirmed that it's going to build a new chipmaking plant in Taylor, Texas. The cost of this project is a whopping $17 billion. It also happens to be the largest foreign direct investment in the state of Texas.
Construction on the project is expected to begin this year. A lot of the preliminary work has already been done. A new report out of South Korea highlights the possibility that the groundbreaking ceremony for this plant may be held next month.
Factory expected to be operational by 2024
Samsung already has chipmaking facilities in Austin, Texas. The company has chosen this particular state to further expand its chipmaking footprint in the United States. Taylor, Texas, is where the new plant is going to be built.
The company has recently filed to seek additional tax breaks in adjoining districts. This suggests that Samsung may have plans to further expand its $17 billion facilities, showcasing its long-term commitment to the project.
Citing sources with knowledge of the matter, Korean media is reporting that Samsung will likely hold a groundbreaking ceremony for the $17 billion chip plant in Taylor, Texas next month. Samsung's Austin office recently shared a photo of the construction site via its newsletter. Leveling of the ground for construction has almost been done. Workers are also building the roads inside this facility that will measure around 5 million square meters.
Companies officials and dignitaries are expected to be in attendance at the groundbreaking ceremony which will take place at the site next month. Samsung expects this $17 billion factory to be fully operational by the second half of 2024. The company will manufacture mobile processors, 5G, high-performance computing, and AI chips at this factory.
Update: A spokesperson for Samsung reached out with the following statement: “No specific decision has been made regarding the groundbreaking ceremony.”
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