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SMIC raises funds for Tianjin fab capacity expansion |
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May 31, 2006 at 10:18 AM |
 Semiconductor Manufacturing International Corporation (SMIC) has raised $300 million US dollars from a group of Chinese banks in a 5-year loan to assist in the production ramp of its 200mm fab in Tianjin, Fab7.
"We are pleased that with strong support from our banking partners, the Tianjin loan is significantly oversubscribed - exceeding our target loan amount by US$150 million," stated Richard Chang, Chief Executive Officer of SMIC. "We plan to use the loan proceeds and internally generated cash flow to fund the Tianjin fab expansion."
Fab7 currently manufactures 200mm wafers at 350nm and 150nm nodes.
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