TAIPEI (Taiwan News) — Fujifilm Holdings plans to invest NT$3.38 billion (US$110 million) to bolster production of chip-polishing material in Taiwan, the company said on Tuesday (May 16).

Through its subsidiary Fujifilm Electronic Materials Taiwan Co., the company intends to construct a new factory at Hsinchu Industrial Park and expand an existing plant in Southern Taiwan Science Park, according to CNA. The expansion plans are expected to create 50 new job opportunities, the company said.

The new factory and expansion of the existing facility will increase production capacity by 50% of chemical mechanical planarization (CMP) slurries, a material used to polish and planarize the surface of semiconductors, according to Nikkei.

The new Hsinchu factory is set to start construction in 2024, with commercial operations beginning in 2026. The subsidiary said that expansion of its plant in Tainan began last September and is slated to start operations in the spring of 2024.

Fujifilm also plans to start production of CMP slurry at a facility in Japan’s Kumamoto prefecture next year, per Nikkei. Taiwan Semiconductor Manufacturing Co. is building an overseas fab in Kumamoto as well.