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SMIC supports Wuhan fab with $1B investment

Posted: 16 May 2011 ?? ?Print Version ?Bookmark and Share

Keywords:joint venture? 65nm? 40nm?

Semiconductor Mfg Int. Corp. (SMIC) and Hubei Science & Technology Investment Group Co. Ltd has entered into a joint venture to invest in the Wuhan Xinxin Semiconductor Manufacturing Corp. 300-mm wafer fab.

SMIC will provide $1 billion of capitalization to the unnamed JV but said that the implementation of the JV may also be dependent on market conditions.

The move is in-line with a cooperation framework agreement signed in October 2010 with the Wuhan East Lake Hi-Tech Development Zone Administrative Committee and Hubei, a wholly-owned subsidiary of the Wuhan East Lake Development Committee.

The joint venture is split with Hubei having 33.3 percent of the JV and providing $500 million of capitalization, while SMIC will have 66.7 percent of the JV and will provide $1 billion over several years. Hubei has also undertaken to supply a cash injection of $226,168,955.

The JV will focus on making 65nm and 40nm ICs with a manufacturing capacity of 45,000 wafers per month, SMIC said.

The establishment of the JV is also subject to obtaining necessary government approvals.

- Peter Clarke
??EE Times





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