Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the largest semiconductor contract manufacturer, has announced the commencement of construction work at a site in Arizona. It is planned to build a plant for the production of microcircuits here, which will cost TSMC $ 12 billion.

Speaking at the company’s annual technology presentation to customers and investors, which is held online only for the second year in a row due to the pandemic, TSMC CEO said the enterprise will begin serial production of 5nm products in 2024.

TSMC is expected to compete with Intel and Samsung Electronics for a share of the $ 54 billion in subsidies the United States is going to provide to stimulate local manufacturing.

Earlier it was reported that TSMC plans to build six factories in Arizona in 10-15 years. In April, the company announced its intention to invest $ 100 billion over three years to expand its production capacity. During the current presentation, the head of the company confirmed the existence of this plan, specifying that 30 billion will be allocated this year.

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