SMIC plans to invest US$12b
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Semiconductor Manufacturing International Corp will invest at least US$12 billion within the next five years to boost production capacity and improve technology.
SMIC, which posted an annual profit for the first time last year after five years of loss, plans to generate revenue of US$5 billion in 2015, more than triple the level of its 2010 revenue, Chairman Jiang Shangzhou said yesterday. It will do this by expanding capacity, tapping the demand in the growing domestic market and investing in research to improve its profit margin.
The Shanghai-based made-to-order chip maker, which has also changed its logo, plans to expand the production capacity of its plants in Shanghai, Beijing and Wuhan in Hubei Province. It seeks to narrow the technology gap to catch up with overseas rivals by 2015.
"It's the best time for us and for the Chinese integrated circuit industry to expand," Jiang said. "We can't miss the opportunity to produce chips with world-class technology."
The biggest chip maker on the Chinese mainland posted a fourth-quarter net profit of US$68.7 million, double that of the third quarter.
