Chinese Integrated Circuit Firm, Haicang Government Agree to Set Up JV With USD1 Billion
Tang Shihua
/SOURCE : Yicai
Chinese Integrated Circuit Firm, Haicang Government Agree to Set Up JV With USD1 Billion

(Yicai Global) June 27 -- Tongfu Microelectronics Co. [SHE:002156] and the Haicang district government in China's southeastern coastal city of Xiamen signed a strategic cooperation agreement yesterday to establish an integrated circuit (IC) packaging joint venture with a total investment of USD1.02 billion (CNY7 billion), the company said in a statement yesterday.

The parties will work together to create an advanced IC packaging and testing enterprise specializing in bumping, wafer level chip scale package (WLCSP), central processor, flip chip system in package and group III-V compound product packaging, testing, development, production and sales, the statement said. The project will be implemented in three phases.

The government will support plant construction and the establishment of an industry fund and will back Tongfu Microelectronics in making bank loan arrangements and providing housing for non-local talent and access to education for their children, the statement said.

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Keywords: Xiamen , IC , Packaging And Test