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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Taiwanese TSMC accepts $3.8 bln Germany microchips factory plan

  • By Al Mayadeen English
  • Source: Reuters
  • 8 Aug 2023 16:14
2 Min Read

The board approves a $3.8 billion investment for the construction of its first European factory, in Germany.

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  • The photo showing the icon of TSMC during the Taiwan Innotech Expo at the World Trade Center in Taipei, Taiwan, on October 14, 2022. (AP)
    The photo showing the icon of TSMC during the Taiwan Innotech Expo at the World Trade Center in Taipei, Taiwan, on October 14, 2022. (AP)

Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) said on Tuesday that its board had approved a 3.5-billion euro ($3.8 billion) investment for the construction of its first European factory, in Germany.

TSMC has been since 2021 in discussions with the German state of Saxony about constructing a manufacturing facility, or "fab," near Dresden.

The facility, which will be TSMC's third outside of the traditional production hotspots of Taiwan and China, is essential to Berlin's goal of developing the local semiconductor industry.

Read: Taiwan chipmaker TSMC shares dip by 3.3% after revenues dropped 10%

The corporation approved the investment of up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Corporation (ESMC) GmbH, of which it would hold 70%, to supply foundry services, according to a brief statement released following a board meeting.

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The German semiconductor companies Bosch and Infineon and the Dutch company NXP will each own 10% of the facility, which can produce 40,000 300-millimeter wafers per month. It's scheduled to debut in 2027.

In an effort to catch up with Asia and the United States, the European Union has passed the EU Chips Act, a 43 billion euro subsidy plan to multiply by two its chipmaking capacity by 2030.

TSMC is one of many chipmakers attempting to obtain government support to construct plants in Europe, including Intel (INTC.O) and Wolfspeed (WOLF.N).

By paying billions in state subsidies, Brussels and EU member states are encouraging domestic manufacture in an effort to reduce reliance on Asian suppliers and alleviate a global chip shortage that has caused major problems for the auto industry.

By 2030, the bloc wants to have a 20% market share worldwide.

To support Washington's aspirations for expanding domestic chip production, TSMC is also investing $40 billion in a new plant in the western US state of Arizona. The company currently runs a plant in Japan under a joint venture with Sony.

As part of the overall $40 billion investment, TSMC said in a statement following the board meeting that it had also approved a capital infusion of no more than $4.5 billion for the Arizona factory.

  • Taiwan
  • chipmaking
  • Germany
  • TSMC
  • China

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