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Samsung Plans To Invest More Than $10 Bln To Build Texas Chipmaking Plant : Report

Samsung Electronics Co. Ltd. (SMSN.L,SSNNF.OB,SSNLF.OB) is planning to invest more than $10 billion to build its most advanced logic chipmaking plant in the U.S., Bloomberg reported citing people familiar with the matter.

The South Korean electronics giant hopes the major investment will win more American clients and help it catch up with Taiwan Semiconductor Manufacturing Co.

Samsung is in discussions to locate a site in Austin, Texas, and the facility is expected to be capable of making chips as advanced as 3 nanometers in the future, the report said.

According to the report, plans are preliminary and subject to change, but the company now aims to begin construction this year, install major equipment from 2022, and start operations as early as 2023.

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