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CHINA: Construction plans for proposed $285,000,000 integrated circuit chip manufacturing capacity expansion project, SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORP. (SMIC) [China] - Order #: 020504.
WWP-Business Opportunities in Asia & the Pacific, February, 2004
PROJECT OVERVIEW:
The local SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORP. (SMIC) recently signed a $285,000,000 loan agreement with a Chinese bank syndicate to enable undertaking a manufacturing capacity expansion project. The lenders include the INDUSTRIAL & COMMERCIAL BANK OF CHINA, the CHINA CONSTRUCTION BANK, BANK OF COMMUNICATIONS and the SHANGHAI PUDONG DEVELOPMENT BANK.
As a result, SMIC intends to use the funds to finance the expansion of its manufacturing capacity at its three 8-inch fabrication plants in Shanghai. The bank loan comes 4 months after SMIC raised $630,000,000 in a share placement to venture capital investors that included NEW ENTERPRISE ASSOCIATES and OAK INVESTMENT PARTNERS. In addition, SMIC is expected to soon raise...
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