Samsung Electronics submits plan to invest $192 billion in Texas plants

Home > Business > Tech

Samsung Electronics submits plan to invest $192 billion in Texas plants

Published: 22 Jul. 2022, 11:25

A construction site of a Samsung Electronics chip manufacturing facility in Taylor, Texas [CITY OF TAYLOR]

Samsung Electronics submitted a long-term plan to invest up to $192 billion and build 11 chip-making plants in Texas over the next few decades, according to its applications filed with Texas Comptroller on Wednesday.

In the documents, the chipmaker proposed to build nine new plants in the Texan city of Taylor, setting an investment that could amount to $167.6 billion.

Another two plants were suggested in Austin, where the company already operates two factories, with an estimated $24.5 billion of spending.

A spokesperson at Samsung Electronics said that the decision is far from being finalized and is mainly intended to examine a possibility ahead of the expiration of a major tax incentive program by the end of this year.
"We currently do not have specific plans to build at this time. However, the Chapter 313 applications to the State of Texas are part of Samsung's long-term plan to evaluate the viability of potentially building additional fabrication plants in the United States," the spokesperson said.

Some of the production lines could be up and running by 2034, and the remaining parts will be gradually constructed over the course of the next 10 years.

Samsung Electronics last year picked Taylor to be the location to make advanced chips and pledged to invest $17 billion.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]