IFNNY - Taiwan Semiconductor said to discuss building German plant this week
2023-08-07 09:47:23 ET
Taiwan Semiconductor ( NYSE: TSM ) is reportedly discussing this week whether to build a manufacturing plant in Dresden, Germany.
The global foundry's board of directors is meeting to discuss the plant, which would receive roughly $5.5B in support from the Germany government, German news outlet Handelsblatt reported , citing sources inside the government.
Taiwan Semiconductor ( TSM ) did not immediately respond to a request for comment from Seeking Alpha.
In May, it was reported that Taiwan Semiconductor was working with several other semiconductor companies, including NXP Semiconductors ( NXPI ) and Infineon ( OTCQX:IFNNY ) about building the plant.
Global semiconductor companies have increasingly looked to Germany as the nation works to boost its domestic chip industry.
Last March, Intel ( INTC ) said it would invest approximately $88B, or 80B€, in chip manufacturing in Europe over the next decade, including an $18.6B mega fab in Germany. In June, the company announced plans to invest 30B€ to build two semiconductor facilities in the country.
In February, Wolfspeed ( WOLF ) said it would build a new $2.3B plant in Saarland, Germany, producing cutting edge 200 millimeter wafers.
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Taiwan Semiconductor said to discuss building German plant this week