World News | Japan to Spend USD 5.2 Billion for Construction of Semiconductor Plants: Reports
Get latest articles and stories on World at LatestLY. The government of Japan is planning to allocate approximately 600 billion yen (about USD 5.2 billion) as part of an additional budget for fiscal 2021 to support the construction of semiconductor manufacturing plants, the Nikkei newspaper reported on Tuesday.
Tokyo [Japan], November 23 (ANI/Sputnik): The government of Japan is planning to allocate approximately 600 billion yen (about USD 5.2 billion) as part of an additional budget for fiscal 2021 to support the construction of semiconductor manufacturing plants, the Nikkei newspaper reported on Tuesday.
In particular, 400 billion yen (USD 3.5 billion) will be spent on the construction of a Taiwan Semiconductor Manufacturing (TSMC) factory in the southwestern prefecture of Kumamoto.
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The construction of the TSMC plant is expected to start in 2022, with production launching in 2024. The plant will be operated jointly by the TSMC and Sony.
The rest of the money will be invested in projects by other companies, including Micron Technology and Kioxia Holdings.
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Japan's newly appointed prime minister, Fumio Kishida, said in October that Tokyo would facilitate the construction of semiconductor plants in the country. (ANI/Sputnik)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)