Asia Express - East Asian ICT
Taiwan Approves USD 2.1 Billion Investment Plan of Micron
August 29, 2019

The Investment Commission of Taiwan’s Ministry of Economic Affairs (MoEA) recently announced that it has approved Micron Technology's plan to invest its subsidiary, Micron Memory Taiwan Co., via a capital increase worth NT$66 billion (US$ 2.1billion ; US$1 = NT$31.4), the United Daily News reported on August 29. With such investment, Micron Taiwan will be able to begin the construction of a new plant in Taichung, Taiwan, with an aim to expand the company’s clean room capacity and upgrading its technologies, and the new plant construction is scheduled to be completed in the fourth quarter of 2020. Besides, the MoEA has also approved Hitachi’s application for a public tender offer for elevator supplier Yungtay Engineering Co. and ANZ Bank’s investment in its subsidiary bank in Taiwan this year.