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Taiwan semiconductor giant to build factory in Nanjing

Xinhua, February 3, 2016 Adjust font size:

Taiwan Semiconductor Manufacturing Co. (TSMC), the world's leading semiconductor maker, said Wednesday that its application to set up a wafer plant in the mainland had been approved by Taiwan authorities.

The company will invest 3 billion U.S. dollars in Nanjing, capital of eastern China's Jiangsu Province.

One third of the funds will come from the parent company in Taiwan, while the remainder will be provided in the form of loans from TSMC's subsidiaries around the world.

The new plant will have an annual capacity of 240,000 twelve-inch wafers with production planned to begin in the latter half of 2018.

TSMC expects its global market share to rise from the current 55 percent to 57 percent by 2018.

The company's net profit grew 16.2 percent last year to 307 billion New Taiwan dollars (about 9.1 billion U.S. dollars). Endi