Foxconn semiconductor project to land in Qingdao

Qingdao West Coast New Area and Foxconn Technology Group signed an agreement through an online video conference on April 15 to carry out a semiconductor project in the region.

The project will expand the industrial chain of integrated circuits in the Qingdao West Coast New Area, promote the transformation and upgrading of the local integrated circuit industry and contribute to high-quality economic and social development, local authorities said.

The project will be jointly funded by Foxconn and Ronghe Holding, a local company. It will use the world's leading high-end packaging technology to package application chips for 5G communication and artificial intelligence, demand for which is quickly growing.

The project is scheduled to start construction this year, begin operating in 2021 and reach its full production capacity in 2025.