TSMC (Taiwan Semiconductor Manufacturing Co.) plans to spend around NT$500 billion (US$15.7 billion; US$1=NT$31.78) on an advanced chip plant to make 5nm and 3nm chips, reported Commercial Times on December 7. The company is currently seeking government's help to find some 50-80 hectares of land for the plant, which is likely to be situated in the southern city of Kaohsiung, Taiwan. With a workforce of around 10,000, the new plant is slated to begin construction in 2020 and launch volume production in 2022, creating over NT$200 billion (US$6.3 billion) in revenue every year. Meanwhile, TSMC is set to make 10nm chips by the end of this year, with plans to push out 7nm chips by 2017 and 5nm by 2020.