SMIC receives USD102 mln additional investment from Datang Telecom
Tuesday, November 23, 2021 3:50 AM

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BEIJING, Nov. 23, 2010 (Xinhua News Agency) -- Datang Telecom (Holdings) Ltd., said Monday it has purchased additional shares of Semiconductor Manufacturing International Corp. (SMIC, SMI.NYSE) at 0.52 HK dollar per share, or about 102 million U.S. dollars in total, and raised its stake to 20 percent in the semiconductor producer.

Datang said the investment would be used for upgrading the manufacturing engineering of SMIC (NYSE:SMI) , expanding the production capacity of high-end products, increasing the designing capacity and adjusting product structure.

An insider of SMIC had disclosed that the investment would be used for the expansion of the 12-inch production line in the firm's Beijing plant, which has been under full-load operation for a while and is in urgent need for output expansion.

The insider said that output capacity of the Beijing factory is expected to increase from 20,000 pieces to 45,000 pieces per month, and about 1.5 billion U.S. dollars would be needed for equipment procurement.

Meanwhile, Datang Board Chairman Zhen Caiji met with the board chairman of Abu Dhabi's ATIC, a state-owned investment firm of United Arab Emirates, and discussed the possibility for SMIC's cooperation with Global Foundry under ATIC.

Global Foundry, the chipmaker spun-off by AMD (NYSE:AMD) , is the third strongest rival of SMIC around the world.

(Edited by Luo Jingjing, luojj@xinhua.org)

(Source: )
(Source: Quotemedia)
 

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