The money will be used to build a new fab in Wuxi. The plan is to break ground in 2023 for a fab with a capacity 83k wpm rising to 95k.
In 2019, Hua Hong was saying it would transition to 14nm processing in 2000. But it is believed this never happened.
Hua Hong has three eight in inch fabs in Shanghai and a 12 inch fab in Wuxi.
In 1997 Hua Hong was set up in a jv with NEC to make DRAMs for NEC. In 2003 it transitioned to becoming a foundry.
In 2011, Hua Hong merged wirh Grace, a fellow Shanghai foundry, with Hua Hong taking 51% of the merged company.
The company had revenues of $1.6 billion last year – the same level as in 2018..
