Taiwan's Vanguard to hasten construction of Singapore factory
Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Purchase Licensing Rights
- Pfizer opened a $1 billion plant in Singapore’s Tuas Biomedical Park on July 23
- The facility will produce active pharmaceutical ingredients for cancer, pain, and antibiotic medicines
- The plant has earned a Green Mark Gold certification for environmental sustainability
- Pfizer’s investment will create 250 skilled jobs and strengthen its global manufacturing capacity
- The biomedical sector is crucial to Singapore’s economy, contributing 2.3% to GDP in 2022
TAIPEI, April 11 (Reuters) – Taiwan’s Vanguard International Semiconductor (5347.TWO), opens new tab said on Friday it will speed up construction of its 12-inch wafer fab in Singapore as geopolitical risksprompt customers to seek more options to make chips outside China.
Construction of the factory, part of VSMC, a joint venture Vanguard unveiled last year with European chipmaker NXP Semiconductors (NXPI.O), opens new tab, is on schedule and even slightly ahead, with mass production expected to begin in 2027, it added.
Vanguard specialises in legacy chips that go into products from cars to display panels. Chinese competitors have been aggressively building up manufacturing capacity for the chips in recent years.
Vanguard Chairman Leuh Fang told reporters some customers had also placed urgent orders due to hefty U.S. tariffs, but added a lot of uncertainties could still affect full-year demand.
The company exports less than 1% of its chips directly to the United States.
Reporting by Wen-Yee Lee; Editing by Clarence Fernandez and Kate Mayberry
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