Business

Samsung considering four sites in US for US$17 billion chip plant: documents

Samsung Electronics Co Ltd is considering two sites in Arizona and another site in New York in addition to Austin, Texas, for a new US$17 billion chip plant, according to documents filed with Texas state officials.

A man walks past the logo of Samsung at its office building in Seoul
FILE PHOTO: A man walks past the logo of Samsung at its office building in Seoul, South Korea, October 25, 2020. REUTERS/Kim Hong-Ji

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SEOUL: Samsung Electronics Co Ltd is considering two sites in Arizona and another site in New York in addition to Austin, Texas, for a new US$17 billion chip plant, according to documents filed with Texas state officials.

The tech giant also said in the documents dated Feb. 26 that it is seeking combined tax abatements of US$1.48 billion over 20 years from Travis County and the city of Austin, up from the US$805.5 million mentioned in a previous document.

A Samsung spokesman told Reuters on Wednesday it is considering a number of possibilities in terms of expansion but declined to elaborate.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Sam Holmes)

Source: Reuters