SMIC received 85 million euros in loans still expect us loans

November 18th news, said the international day in the core, the company has received a 85 million euro loan guarantees from European banks, the cost will be used to purchase new equipment. At the same time, SMIC is still waiting for the U.S. export import bank's $770 million loan.

According to Hongkong media reports, SMIC chief financial officer Gong Zhiwei (Gareth Kung) said: "the money will be used mainly for buying equipment from europe. The company's capital expenditure has been met next year, currently has $550 million in cash and more than $700 million in credit lines."

In March this year, under the weight of U.S. chip manufacturers, the U.S. Export Import Bank temporarily stranded $770 million loan guarantees. But Gong Zhiwei said: "we still hope that the Export Import Bank of America can change the decision."

According to Gong Zhiwei revealed that SMIC's spending next year will be basically flat with this year, is expected to be between 10-12 billion. These costs will be mainly used in 12 inch manufacturing plants. According to SMIC investment relations manager Calvin Lau expects: by the end of next year, SMIC Beijing plant capacity will be increased to 20 thousand monthly processing of 12 inch silicon wafers."