Samsung files paperwork for $17 billion Austin chip plant

Posted on Friday, February 05 2021 @ 9:48 CET by Thomas De Maesschalck
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Samsung's plan to set up a major chip plant in Austin, Texas is inching closer to being greenlit. Reuters reports Samsung filed paperwork with Texas state officials that shed further details about the plan.

The South Korean electronics giant set its sight on Austin to build a 7 million square feet (650,000 square meters) chip plant on a 640-acre (259-hectare) plot of land that the firm already owns. The total investment is estimated to be $17 billion.

Samsung's plan isn't final yet but if everything goes right construction could begin in Q2 2021:
Samsung said in its filings that if Austin is selected, the company would break ground on the site in the second quarter of this year and that the plant will become operational in the third quarter of 2023.
These days, most contract chip production happens in Taiwan and South Korea, but there's a renewed push to bring back manufacturing to the US. Last year, TSMC revealed plans to build a $12 billion chip plant in Arizona.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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