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Samsung to invest US$ 7 bln in Xi'an

Apr. 12, 2012 (China Knowledge) – Korea based Samsung electronic, the world's largest electronics Industry Company, said it has signed a contract worth US$ 7 billion with the Xi'an High-tech Industries Development Zone (XHTZ).

According to the contract, the electronic maker will build its second oversea semiconductor plant in the Zone to produce its 10-nanometer memory chip.

Kwon Oh Hyun, Vice President of Samsung electronics, said the XHTZ's efficient service, large talent reserves, and good infrastructure attracted Samsung to build its plant here. Also, it is close to many of its main customers.

Samsung memory chip project will further improve Xi'an's IT industry chain and promote the city's development, said Zhao Zhengyong, governor of the Shanxi Province.

The electronic manufacturer said the new plant will be completed and go into operation at the end of 2013 and will have an output of 100,000 chips per month.

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