US chip giant Intel has said it will build a $2.5 billion plant in China.
The integrated wafer plant, called Fab 68, will be Intel's first of its kind in Asia, and will be located in the northeast Chinese port city of Dalian, the company said in a statement issued ahead of a signing ceremony in Beijing.
'China is our fastest-growing major market and we believe it's critical that we invest in markets that will provide for future growth to better serve our customers,' said Intel CEO Paul Otellini in the statement.
Construction on Fab 68, which will produce 300mm (12-inch) integrated wafers, is scheduled to begin later this year with production projected to begin in the first half of 2010, the statement said.
It is the first time since 1992, when Intel built 10 plants in Ireland, that the company has built a fab from the ground up at a brand new site, it said.
