After the Wall Street Journal claimed that the location of a new $17 billion chip plant in the United States will be Taylor, Texas, South Korean tech giant Samsung Electronics Co Ltd (005930. KS) stated on Tuesday that it had not made a final choice.
According to the Wall Street Journal, Texas Governor Greg Abbott will deliver an “economy announcement” on Tuesday at 5 p.m. (2300 GMT).
The factory would be Samsung’s second in Texas, where it already has a chip manufacturing unit in Austin. find out more
Samsung has joined rivals TSMC (2330. TW) and Intel (INTC.O) in the drive to grow chip contract manufacturing in the US, where the sector is considered a strategic threat to China.
President Joe Biden’s administration has pledged billions of dollars in federal financing to increase chip manufacture and research in order to maintain a technological advantage over China and alleviate crucial industry shortages such as automotive.
