TAIPEI (Taiwan News) -- After announcing on Monday (Aug. 26) that it was building a new plant coded A3, U.S.-based dynamic random access memory (DRAM) chip maker Micron Technology Inc. today (Aug. 28) received Taiwan government approval to invest NT$66 billion (US$2.09 billion).
During the 1179th meeting of the Investment Commission of the Ministry of Economic Affairs' today, seven major investment cases were filed and approved. Among the cases approved was the equivalent of NT$66 billion in foreign currency to be remitted from Micron Technology to increase investment in Taiwan-based enterprises such as its subsidiary Micron Memory Taiwan Co., and to engage in electronic component manufacturing, reported CNA.
Local media on Monday reported that Micron Technology is planning on building two wafer plants to manufacture next-generation DRAM chips, A3 and A5. Reports say that the new facilities would be used to produce chips for the Internet of Things, automotive electronics, and 5G technology.
Micron Memory Taiwan on Monday confirmed the construction of its A3 plant in the Houli section of the Central Taiwan Science Park in Taichung. The new plant is slated for completion in the fourth quarter of 2020 and the company said the facility is designed to expand the company's cleanroom capacity and upgrading its technologies, rather than boosting wafer production, according to CNA.