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(Yicai Global) Aug. 3 – State-owned Shanghai Huahong (Group) Co. will set up several 12-inch integrated circuit production lines in Wuxi in East China's Jiangsu province. The project will have a total investment of USD10 billion.
Shanghai Huahong (Group) Co., Ltd. and Wuxi Municipal People's Government held a strategic cooperation agreement signing ceremony in Wuxi, said a statement issued on Huahong Group's website yesterday. The integrated circuit research and development (R&D) and manufacturing base project will be settled in Wuxi High-Tech Industrial Development Zone.
The first phase of the project will build a 12-inch production line with monthly production capacity of about 40,000 chips and related facilities. Following the implementation of the first phase of the project, the second production line construction will start as scheduled.
Shanghai Huahong Group is a state-owned high-tech industry firm, focusing on integrated circuit manufacturing.