Taiwan's GlobalWafers sees Nov groundbreaking for $5-B Texas plant | Inquirer Business

Taiwan’s GlobalWafers sees Nov groundbreaking for $5-B Texas plant

/ 04:15 PM September 13, 2022

TAIPEI  – Taiwan’s GlobalWafers Co Ltd expects to start construction in November of its new $5-billion plant in Texas, the company’s chair and CEO said on Tuesday.

The company said in June it would build the plant to make 300-millimetre silicon wafers used in semiconductors, switching from a defunct plan to invest in Germany.

Chairwoman and chief executive Doris Hsu told reporters in Taipei that the groundbreaking ceremony was expected to be around the end of November.

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The United States has been encouraging foreign tech firms to manufacture in the country, and the government has welcomed the investment by GlobalWafers.

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Last month, U.S. President Joe Biden signed into law the Chips and Science Act, which authorized about $52 billion in government subsidies for U.S. semiconductor production and research, and an investment tax credit for chip plants estimated to be worth $24 billion.

Hsu said they had received proposals not just from the United States but other countries for building a factory and while government subsidies were an important factor it was not the only one.

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“We received government subsidy proposals from not only the United States but from other places as well. But our assessment looks at the overall score. The Chips act is a very important factor but it is not the only factor,” she added.

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Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc supplier and the world’s largest contract chipmaker, last year started construction of a semiconductor factory in Arizona on which it plans to spend $12 billion.

GlobalWafers’ Taipei-listed shares closed 1 percent lower on Tuesday, underperforming the broader market, which ended up 0.6 percent. The company’s shares are down 48 percent so far this year.

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TAGS: factory, Taiwan, Texas

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