SMIC starts construction of four new wafer fabs

SMIC announced that it will start four new wafer fab construction projects, located in Beijing, Shenzhen, Shanghai and Tianjin. The total investment of these four projects has reached US$23.5 billion, aiming to expand the company's production capacity and promote the development of the semiconductor industry in mainland China. Among them, the project in Beijing has started construction and is expected to be completed in 2024, when it will form a monthly 100,000 12-inch wafer production capacity.