New Semi-Conductor Chip Factory By Samsung Worth $17 Billion Coming Up In Texas

New Semi-Conductor Chip Factory By Samsung Worth $17 Billion Coming Up In Texas

Texans have recently been amongst many developmental activities, such as allowing Bitcoin miners to set up their base, and now providing a conducing environment for semi-conductor factories to be set up outside of Austin.

Texas governor Greg Abbott shared with excitement, “This is the largest foreign direct investment in the state of Texas, ever.” The tech giant said that it shall start the work on the plant in 2022, and expects to make it ready for production in the latter half of 2024.
While choosing the perfect location for these activities, Samsung’s Vice Chairman Kinam Kim shared that, the government incentives, and “readiness and stability” of local infrastructure played a role, while sharing a podium with Abbott.

The scarcity of chips has been a major problem that countries had begun facing for a few years, where the waiting time would be extended to years. This not only emerged as an opportunity but a desperate need of the hour as it raised security concerns for many countries.

The shortage of chips became a serious problem more so during the pandemic, as shutdowns and halted productions, affected almost the entire electronic industry in one blow from smartwatches to automobiles.

Questions further emerged as alternative and more suitable destinations, as countries did not anymore want to be China or Taiwan dependent, where the latter is facing issues in upholding its sovereignty.

“It makes sense for the supply chain to be a bit more diversified geographically,” said Angelo Zino, an analyst at CFRA. “You’re clearly seeing some new foundry capacity plans being announced in the U.S. as well as Europe.”

This comes in the wake of familiarity with the region for Samsung, as it has previously been engaging with Texas since the late 1990s for a chip fabrication plant, however ensuring most manufacturing centers are situated in Asia.

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Appreciation has been coming for this move across party lines, U.S. Commerce Secretary Gina Raimondo in a written statement said, “Increasing domestic production of semiconductor chips is critical for our national and economic security.”

Similar moves are also being experimented with within Europe, as countries look for setting up chip manufacturing in their own countries, or places closer to use.

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About Govind Dhiman 2041 Articles
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