[Gadgest] Samsung, forced to invest 25,000 million dollars instead of 17,000 to build a new plant in Texas

[Draeno]

 

Samsung will have to spend much more to set up a plant in the United States. The construction cost will increase almost one and a half times the original plan.

this is what we know
Samsung has announced that it wants to build a new plant in Texas to serve customers in the semiconductor sector. The South Korean manufacturer's estimate was $17 billion to build the second facility. According to the new figures, the company will have to spend $25 billion.

The increase of 8,000 million is due to the increase in construction costs. The US government is willing to provide $39 billion in subsidies over the next five years, but the Commerce Department expects the subsidy to cover no more than 15% of the plant's construction costs.

Samsung wants to finish the new facility in 2024 and start production in 2025. The plans are justified by the company's desire to claim tax credits on equipment purchases.

 

Source: Reuters

 

https://gagadget.com/es/226026-samsung-obligada-a-invertir-25000-millones-de-dolares-en-lugar-de-17000-para-construir-una-nueva-planta-en-texas/