TSMC is investing nearly $2.9 billion to build a state-of-the-art chip factory in Taiwan

© Reuters. FILE PHOTO: Construction workers stand as chip giant TSMC holds a ceremony to start mass production of its latest 3-nanometer chips in the southern city of Tainan, Taiwan December 29, 2022. REUTERS/An Wang

TAIPEI (Reuters) – TSMC plans to invest nearly NT$90 billion ($2.87 billion) to build an advanced chip testing and packaging facility in northern Taiwan’s Miaoli County, state news agency KCNA said.

TSMC did not immediately respond to a request for comment.

($1 = 31.3230 Taiwan dollars)