, the world's most active memory chip maker, announced today that it's begun constructing a new facility in Xi'an, China that will make use of advanced 10-nanometer class technology in producing NAND flash memory chips. The South Korean company said it's investing $2.3 billion in the new fab, marking the single largest investment by Samsung in China with a phased total investment of $7 billion.
"It is a great honor to announce our groundbreaking at Xi'an, a city of tremendous historic and academic significance, as we celebrate the 20th anniversary of diplomatic relations between Korea and China," Samdung Vice Chairman and CEO Dr. Oh-hyun Kwon said in a statement. "At this time, our memory semiconductor business also marks its 20th consecutive year as the leader of the memory industry. The new Samsung China Semiconductor fab will lay a solid foundation for continued supply of leading memory components, enabling Samsung to further spearhead the advancement of the IT industry and enhanced user experiences."
Xi'an, at more than 3,100 years old, is one of the oldest cities in China.
Xi'an is viewed as a desirable location because it's at the center of development of advanced electronics technology. The location's industry landscape offers access to basic resources like water and power, and is home to 37 universities and 3,000 R&D centers all focused on advanced IT technology.
Samsung says its new plant will be fully operational in 2014.