SMIC, the Shanghai foundry, and the Chinese municipality of Shenzhen are to invest $2.35 billion to build a 28nm fab in Shenzhen.
28nm was first used in the industry in 2011.
SMIC will take a 55% stake and the city will take 23%. The remaining 22% appears to be up for grabs.
“The company and Shenzhen government will jointly drive other third-party investors to complete the remaining capital contribution,” said a stock exchange filing detailing the project.
The plan is run first silicon in 2022
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