May 15, 2020 / 12:56 AM / 11 days ago

Taiwan's TSMC announces plan to build $12 billion U.S. factory

TAIPEI, May 15 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd, the world's biggest contract manufacturer of computer chips, on Friday announced plans to build an approximately $12 billion advanced chip factory in Arizona.

The plant will create as many as 1,600 jobs and produce the most sophisticated 5 nanometer chips, TSMC said in a statement.

The Taiwan-based company said the construction is planned to start in 2021 with production targeted to begin in 2024. (Reporting By Yimou Lee Editing by Shri Navaratnam)

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