Samsung to spend more than $14 billion in second phase of China chip plant: Xinhua

BEIJING (Reuters) – South Korean tech giant Samsung Electronics Co Ltd will spend more than $14 billion in the second phase of investment in its memory chip plant in Xian, China, China’s official Xinhua news agency reported on Friday citing a Samsung executive.

Xinhua, citing Samsung Vice President Ji Hyun-ki, said the second phase of investment in the Xian plant will be completed in July this year and start production in the first quarter of 2020.