$2.2b IC project settles in Lin-gang Special Area
Galaxycore Inc. signed a cooperation agreement with China Shanghai Pilot Free Trade Zone Lin-gang Special Area Administration and Lingang Group to carry out an integrated circuit R&D and industrialization project on March 5.
The project, with an estimated investment of $2.2 billion, is scheduled to start in the middle of this year and complete its first phase in 2021.
The Lin-gang Special Area Administration first contacted Galaxycore Inc. about the project before the Spring Festival, and the two carried out formal negotiations after the festival. The two parties agreed on an implementation plan and signed the investment agreement in less than a month.
The IC industry is one of the key industries in Lin-gang Special Area. Several policies have been announced to facilitate IC industrial development in Lin-gang Special Area.
Lin-gang Special Area has gathered a group of IC enterprises such as ZingSemi and GTA, covering the whole IC industrial chain.
Galaxycore Inc.'s 12-inch CIS IC R&D and industrialization project is expected to improve the IC industrial ecology and improve the industrial scale in Lin-gang Special Area.
Galaxycore Inc. signs a cooperation agreement with Lin-gang Special Area Administration and Lingang Group to carry out an integrated circuits R&D and industrialization project on March 5. [Photo/WeChat account: shlgguanweihui]
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