Aug. 29, 2002 – Hsinchu, Taiwan – Taiwan Semiconductor Manufacturing Co. has signed a letter of intent with Shanghai’s Songjiang district to build a production plant.
TSMC said the letter of intent was signed on condition the investment receives Taiwan government approval and will go forward based on whether the company’s business needs require the plant, reported Dow Jones.
The statement to the Taiwan Stock Exchange didn’t specify when the letter of intent was signed and didn’t name TSMC’s counterpart. TSMC said both sides have agreed to keep the contents of the letter confidential. The foundry added that it hasn’t submitted an application for the China chip investment to the Taiwan government yet, and until it does so, there won’t be any fund transfers to the planned China investment.