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Chip foundry SMIC forms JV in Beijing

Posted: 05 Jun 2013     Print Version  Bookmark and Share

Keywords:Semiconductor Manufacturing International Corporation  joint venture  Beijing Industrial Development Investment Management  Zhongguancun Development Group  Northern SMIC Semiconductor Manufacturing 

Chinese contract chip manufacturer Semiconductor Manufacturing International Corporation (SMIC) has planned to form a joint venture in Beijing, China. SMIC and its subsidiary SMIC Beijing have entered into the joint venture with Beijing Industrial Development Investment Management Corp. (BIDIMC) and Zhongguancun Development Group (ZDG).

SMIC will be responsible for managing the daily operations of the joint venture called Northern SMIC Semiconductor Manufacturing (Beijing) Co. Ltd.

The JV is expected to establish and build up manufacturing capacity with a focus on 45nm and finer technologies and aims to reach a manufacturing capacity of 35,000 wafers per month, depending on the environment in which the joint venture company operates and market conditions, said SMIC.

The total investment is estimated to be $3.59 billion with $1.2 billion of the total investment to be contributed by the parties in the form of registered capital. SMIC and SMIC Beijing shall contribute 55 per cent of the registered capital in an aggregate amount of Rs.3,586.96 crore ($660 million), ZDG and BIDIMC shall contribute 45 per cent of the registered capital in an aggregate amount of Rs.2,934.78 crore ($540 million).

The remaining money is to be funded through loans, further funding and cash flow.

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