# SMIC signs $7.6B joint venture for wafer production in Beijing

China's Semiconductor Manufacturing International Corp (SMIC) announced it will establish a joint venture company with Beijing Economic-Technological Development Area Management Committee to develop facilities for 12-inch wafer production in Beijing.

- Type: Investment
- Announced: 2020-07-31
- Where: Beijing, China
- Value: $7.60B
- Status: announced
- Products: 12-inch wafers
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Semiconductor Manufacturing International Corporation](https://endata.com/companies/19550.md)
- [Beijing Economic-Technological Development Area Management Committee](https://endata.com/companies/49031.md) (partner)

## Sources

- [globalstocknews.org](https://globalstocknews.org/chipmaker-smic-inks-7-6-billion-investment-deal-for-wafer-production-reuters/), 2020-07-31: "China's Semiconductor Manufacturing International Corp (SMIC) said on Friday it would establish a joint venture company to develop wafer production units in Beijing to bump up its semiconductor output and reduce costs."
- [globalstocknews.org](https://globalstocknews.org/chipmaker-smic-inks-7-6-billion-investment-deal-for-wafer-production/), 2020-07-31: "China's Semiconductor Manufacturing International Corp (SMIC) said on Friday it would establish a joint venture company to develop wafer production units in Beijing to bump up its semiconductor output and reduce costs."

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