TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Corp.'s (TSMC) latest capital budget of US$17.6 billion (NT$483.2 billion) includes US$175 million allocated to vaccine doses.

In its spending plan, which was approved by the board on Tuesday (Aug. 10), TSMC made arrangements for the purchase of 5 million doses of the BioNTech (BNT) vaccine, which the corporation will donate to Taiwan’s health authorities, according to a CNA report.

TSMC joined Foxconn and that firm's Yonglin Foundation last month in completing orders for 5 million BNT doses each to donate to the Ministry of Health and Welfare’s Department of Disease Control.

TSMC CEO C.C. Wei (魏哲家) says the total spent on vaccines will not exceed US$175 million and that this covers costs related to procurement, processing services, cold chain logistics, and insurance plans.

Beyond purchasing vaccines, TSMC stated that the broader budget will be used to build advanced and specialized manufacturing processes, upgrade its packaging production capacity, construct new foundries, and cover R&D and recurrent expenditure for this year’s fourth quarter.

TSMC also approved a plan to raise debentures in Taiwan’s international bond market within a US$1 billion quota and to provide guarantees for U.S. dollar-denominated debentures for its wholly-owned overseas subsidiary TSMC Arizona. The company plans to raise up to US$8 billion to fund the expansion of its Arizona plant's capacity.