Semiconductor chips are seen on a printed circuit board in this illustration picture taken Feb 17, 2023. SINGAPORE: NXP Semiconductors and TSMC-backed Vanguard International will enter into a joint venture to build a US$7.8 billion semiconductor wafer manufacturing plant in Singapore to cater to the automotive, industrial, consumer and mobile end markets, the firms said in a statement on Wednesday .
Vanguard will invest US$2.4 billion with a 60 per cent stake in the joint venture, while NXP will invest US$1.6 billion and hold 40 per cent of the venture, the statement said. The firms will also provide an additional US$1.9 billion to support the long-term capacity of the plant. Construction of the plant is expected to begin in the second-half of 2024, with initial production available to customers in 2027, the firms said. Construction of the initial phase will take place after regulatory approvals.
The joint venture, which will be operated by Vanguard, expects to create about 1,500 jobs in Singapore, the statement said.We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.