China's SMIC will spend $8.87B to construct a plant on the outskirts of Shanghai and arrange a $5.5B three way partnership with Shanghai's authorities to supervise the undertaking (Bloomberg)

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Bloomberg:

China’s SMIC will spend $8.87B to construct a plant on the outskirts of Shanghai and arrange a $5.5B three way partnership with Shanghai’s authorities to supervise the undertaking  —  – SMIC to arrange a $5.5 billion JV within the metropolis’s free commerce zone  — The corporate is pivotal to China’s broader chip ambitions



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