# SMIC receives $2.45B state-backed capital for Beijing wafer plant

China's SMIC received $2.45 billion of state-backed capital for a new joint venture wafer plant in Beijing, along with a $460 million capital injection into an existing joint venture in Ningbo.

- Type: Investment
- Announced: 2020-12-16
- Where: Beijing, China
- Value: $2.45B
- Status: announced
- Products: wafers
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Semiconductor Manufacturing International Corporation](https://endata.com/companies/19550.md)

## Sources

- [asiafinancial.com](https://www.asiafinancial.com/chipmaker-smic-handed-2-45-billion-state-cash-boost), 2020-12-16: "China’s largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), has been handed $2.45 billion of state-backed capital for a new joint venture wafer plant in Beijing."

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