# SMIC, Shaoxing Government and Shengyang Group form joint venture for MEMS and power device foundry

SMIC, Shaoxing Government, and Shengyang Group signed a joint venture agreement to establish Semiconductor Manufacturing Electronics (Shaoxing) Corporation, with an investment of ¥5.88 billion RMB, to build a MEMS and power device wafer foundry.

- Type: Investment
- Announced: 2018-03-01
- Where: Shaoxing, China, China
- Value: $930.0M (5.88B CNY)
- Status: announced
- Products: MEMS and power device chips
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [SMIC](https://endata.com/companies/30427.md) (investor)
- [Shaoxing Government](https://endata.com/companies/30428.md) (investor)
- [Shengyang Group](https://endata.com/companies/30429.md) (investor)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/semiconductor-manufacturing-electronics-shaoxing-corporation-formally-signed-a-joint-venture-agreement-300606531.html), 2018-03-01: "The investment of this signed joint venture amounts to ¥5.88 Billion RMB."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.