Building a semiconductor plant through investment in the U.S. ... Business scale of ¥1.6 trillion; Minister of Economy, Trade and Industry Akazawa (赤沢) says Japan and the U.S. will strengthen supply chain resilience

The story

Minister of Economy, Trade and Industry Akazawa Ryosei (赤沢亮正) announced that Japan and the United States had agreed to invest approximately $10 billion in the United States. The investment in semiconductor manufacturing is the third coordinated initiative by the Japanese and US governments, aimed at strengthening the supply chain.

A new plant will be built at GlobalFoundries’ site in New York State. The plant is expected to expand semiconductor manufacturing capacity across a wide range of fields, including AI, automobiles, industrial machinery and smartphones.

The total project value could increase to as much as approximately $21 billion. The plant is scheduled to begin operations in 2029.

At a glance

BusinessThe US and Japanese governments agreed to invest approximately $10 billion in the US. The semiconductor investment is part of the first three-party collaboration.

RegionA new plant will be established at GlobalFoundries' site in New York State.

TimingThe new plant is scheduled to begin operations in 2029.

ScaleThe total project cost could expand to approximately $21 billion at the maximum.

NatureThe project aims to expand semiconductor manufacturing capacity and strengthen US-Japan supply chains.

Reference information. Every claim resolves to something the story actually named.