Hynix and STMicroelectronics joint venture financing $7.5 billion

Hynix said Monday, the joint venture company of semiconductor and STMicroelectronics in Chinese has been completed to raise $750 million, the funds will be used to build memory chip production line.

Hynix Semiconductor and STMicroelectronics invest $2 billion to build a joint venture wafer factory in Wuxi, China, aiming at the rapidly growing Chinese semiconductor market. It is reported that the joint venture through 19 financial institutions, access to $750 million in loans for the period of five years, including ICBC. Loan funds will be used in the new 12 inch wafer production line, which is currently under construction.

The production line joint venture company has adopted eight inch wafer production DRAM memory chips, and 12 inch wafer production line will be mass production in October. 12 inch wafer production line to be used to create flash memory or memory is uncertain.