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Samsung Electronics could start development of new U.S. chip plant in Q3

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Samsung Electronics Co Ltd could start development of an arranged $17 billion U.S. chip plant in the second from last quarter of this current year with an objective to be operational in 2024, a South Korean paper detailed late on Monday.

Samsung is wanting to apply a high level 5-nanometer outrageous bright (EUV) lithography chip-production measure at the plant, which is relied upon to be in Austin, Texas, the Electronic Times announced refering to anonymous industry sources.

Samsung said nothing had been chosen.

Archives recorded with Texas state authorities recently showed Samsung is thinking about Austin as one of the locales for another $17 billion chip plant that the South Korean firm said could make 1,800 positions.

U.S. President Joe Biden has proposed $50 billion to help chip producing, which has prodded organizations like Intel Corp and worldwide No. 1 chip contract producer Taiwan Semiconductor Manufacturing Co to think about major new ventures.

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