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China foundry gears up for expansion, gets $600M loan

Posted: 20 Mar 2012 ?? ?Print Version ?Bookmark and Share

Keywords:foundry business? wafer fab? 300mm wafer?

Semiconductor Manufacturing International Corp.'s (SMIC) subsidiary, Semiconductor Manufacturing International (Beijing) Corp. has closed a seven-year syndicated loan of $600 million.

The money comes from a consortium of banks led by the China Development Bank and the Export-Import Bank of China. The loan is mainly intended to support expansion and technology development for SMIC's 300mm wafer fab in Beijing.

"This credit arrangement shows that major Chinese policy banks and commercial banks recognize the potential of our advanced 12-inch (convert to mm except for displays) fab in Beijing. In addition, this loan facility strengthens our capital structure, achieving an improved balance between short term and long term debt," said Tzu-Yin Chiu, CEO of SMIC.

The other participants in the syndicated loan are China Construction Bank, Bank of Shanghai and Bank of Beijing.

SMIC launches IC research program
The program will serve as a platform for cooperation, strengthening technology development and academic exchange between SMIC, Brite Semiconductor and Zhejiang University. Learn more about the research program here.

SMIC has one 300mm and three 200mm wafer fabs at its Shanghai campus and two 300mm modules in its Beijing wafer fab facility. SMIC also has a 200mm fab in Tianjin, and a 200mm fab under construction in Shenzhen. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan that is owned by Wuhan Xinxin Semiconductor Manufacturing Corp.

- Peter Clarke
??EE Times

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