Hynix intends to raise $750 million to expand China's memory wafer factory

Korea Hynix (Hynix Semiconductor) chip manufacturer said recently, plans to raise $750 million investment fund, to expand its China subsidiary. The subsidiary is a joint venture between Hynix and STMicroelectronics (ST).

A spokesman for Hynix said the company plans to raise the funds before the end of June 2007. These funds will be used to increase Hynix-ST Semiconductor (Wuxi, China) memory wafer production line. The spokesman said that the joint venture will receive funds from 19 Chinese financial institutions, including ICBC.

Said the fund is part of the Wuxi memory wafer production line invested $2 billion of the total joint venture factory first built plans a total investment of $2 billion, including ST and Hynix of the investment ratio of 1/3 on 2/3. Hynix-ST Semiconductor was founded in 2004, the current production of memory chips on the 200mm wafer. The funds will be used to expand the 200mm wafer production capacity, and the establishment of a wafer based 300mm chip production line.

The spokesman said, Hynix-ST Semiconductor plans to the end of 2006 the 200mm production line initial wafer production capacity increased to 20 thousand a month.