SMIC to Invest $8.87 Billion for New Chip Plant in Shanghai

Gadgets 360

SMIC will invest $8.87 billion (roughly Rs. 64,830 crores) to build a chip plant in Shanghai, expanding capacity amid a global chip shortage as Beijing pushes to boost independence in the sector.

The expansion by China’s largest chipmaker comes as the shortage rattled the automotive and electronics industries, spurring new capacity plans by…

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