TSMC OKs $210 mln investment in new Taiwan plant

TAIPEI, May 11 (BestGrowthStock) – TSMC (2330.TW: ), the world’s
largest contract chipmaker, said on Tuesday its board has
approved a plan to invest $210 million to help build a new chip
plant in Taiwan amid rising technology demand.

A day ago, TSMC (TSM.N: ) posted a record monthly sales in
April as major foreign chipmakers speed up outsourcing production
to chip foundries to cut costs. [ID:nTOE649077]

Before the announcement, TSMC’s Taipei-listed shares closed
up 0.5 percent on Tuesday, defying the main TAIEX index’s (.TWII: )
0.73 percent fall.

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(US$1=T$31.8)
(Reporting by Baker Li, Editing by Jonathan Standing)

TSMC OKs $210 mln investment in new Taiwan plant