Samsung and Siltronic, a German silicon wafer maker, announced they will set up a joint venture in Singapore to manufacture 12-inch wafers. US$1 billion will be invested in the new company, named Siltronic Samsung Wafer Pte, with both Samsung and Siltronic to take a 50% share in the venture. Construction of the manufacturing facility is expected to start by the end of August 2006 when government approval is expected to be granted. The facility is slated to start production in the middle of 2008. The plant is projected to have a monthly capacity of 300,000 wafers by 2010 and employ a staff of 800.