TSMC Gets Green Light for $20 Billion Arizona Project

Taiwan has approved a $20 billion capital injection by Taiwan Semiconductor Manufacturing or TSMC's (TPE:2330) into its Arizona unit, allowing the chipmaker to move ahead with plans to build a 12-inch wafer fab and an advanced packaging plant in the US, Focus Taiwan reported Thursday. The approval from the Ministry of Economic Affairs' Department of Investment Review is the sixth for TSMC's US expansion, bringing the total value of its approved US investments to $44 billion. The company will announce further details of the Arizona project. The department also cleared overseas investments by Nanya Technology (TPE:2408), Quanta Computer (TPE:2382) and Lite-On Technology (TPE:2301), along with projects by Formosa Plastics (TPE:1301), Taiwan Union Technology (TWO:6274) and Fubon Life Insurance, the report said.