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BRIEF-SMIC Agrees To 12-inch Wafer Project Worth $2.35 Bln In Shenzhen

· 03/17/2021 09:08
BRIEF-SMIC Agrees To 12-inch Wafer Project Worth $2.35 Bln In Shenzhen

- Semiconductor Manufacturing International Corp 0981.HK688981.SS:

  • SAYS IT SIGNS FRAMEWORK AGREEMENT WITH SHENZHEN GOVERNMENT FOR INTEGRATED CIRCUIT AND TECHNOLOGY SERVICE PROJECT WITH INVESTMENT AT ABOUT $2.35 BILLION

  • SAYS IT AIMS TO PRODUCE 12-INCH WAFER WITH CAPACITY OF ABOUT 40,000 PER MONTH, EXPECTS TO START PRODUCTION FROM 2022

  • SAYS IT WILL OWN 55% STAKE IN ITS SHENZHEN UNIT WHILE SHENZHEN GOVERNMENT-BACKED FIRM WILL OWN UP TO 23% AFTER ALL PARTIES COMPLETE TRANSACTIONS

Source text in Chinese: https://bit.ly/3cIIYC0

Further company coverage: 0981.HK


(Reporting by Hong Kong newsroom)

((meg.shen@thomsonreuters.com; 852-39525805;))