Samsung to spend more than $14 billion in second phase of China chip plant - Xinhua

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji/File Photo - Copyright KIM HONG-JI(Reuters)

By Reuters

Published on 17/05/2019 - 13:34•Updated 26/04/2024 - 02:51

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BEIJING (Reuters) - South Korean tech giant Samsung Electronics Co Ltd will spend more than $14 billion (11 billion pounds) in the second phase of investment in its memory chip plant in Xian, China, China's official Xinhua news agency reported on Friday citing a Samsung executive.

Xinhua, citing Samsung Vice President Ji Hyun-ki, said the second phase of investment in the Xian plant will be completed in July this year and start production in the first quarter of 2020.