Asia Express - East Asian ICT
East Asia ICT - SMIC Granted US$600 Mil. For Expansion
June 03, 2005

SMIC (Semiconductor Manufacturing International) has secured a five-year, US$600 million loan from a consortium of 11 Chinese banks to expand three plants in Beijing. The award comes after a failure to win a guarantee from the U.S. Export-Import Bank, which would have required the company to purchase equipment from US makers. SMIC has not yet released more specific plans on how it will spend the loan.