TSMC’s Taiwan manufacturing unit plans haven’t modified, says minister | Enterprise and Financial system

Financial system minister says funding nonetheless going forward after report that semiconductor large is slowing enlargement plans.

Taiwan’s TSMC has not modified the funding plan for its new chip manufacturing unit within the island’s southern metropolis of Kaohsiung, Financial system Minister Wang Mei-hua has mentioned, responding to a media report of the chipmaker slowing down enlargement at residence.

“TSMC making Taiwan its international R&D hub and manufacturing hub has not modified,” Wang informed reporters on Wednesday on the sidelines of parliament. “TSMC investing in Taiwan, investing in Kaohsiung, additionally has not modified.”

Wang’s feedback come after Taiwan’s DigiTimes publication reported, citing sources, that TSMC is slowing down its enlargement plans in Kaohsiung and different Taiwanese cities.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a significant Apple provider, declined to remark, citing its quiet interval forward of quarterly earnings due subsequent week.

The chipmaker broke floor final yr on its Kaohsiung plant, which can produce mature 28-nanometre semiconductors.

In 2021, TSMC mentioned the Kaohsiung enlargement would additionally embrace superior 7-nanometre chips, however the firm later postponed plans to construct the superior chips there.

TSMC, the world’s largest contract chipmaker, mentioned in January it expects softer demand because of a slowing international financial system and would lower its capital expenditure this yr to $32-$36bn, from $36.3bn final yr.

The corporate has in recent times ramped up investments overseas, asserting new chip factories in america and Japan.

TSMC’s shares have been down about 1 % on Wednesday morning, lagging the broader market.