8 billion dollar increase in the construction cost of the Samsung factory in Texas

According to unofficial reports, factory New chip Samsung To be built in the United States, it will cost $8 billion more than previously estimated. With this increase in cost, the final figure of the construction of the Samsung factory in the state of Texas is approx 25 billion dollars will receive.

What is the reason for the increase in the construction cost of the Samsung factory?

One of Samsung’s internal sources has announced that due to the increase in inflation in the United States, the cost of building the company’s new factory in the south of the United States will be $8 billion more than previously estimated. The increase in construction costs is considered to be the main reason for this jump, which accounts for about 80% of the said figure. Also, the increase in the price of building materials should be taken into account.

An unnamed source close to Samsung said that if there is further delay in completing the project, there is a possibility that the estimated cost will increase again. Samsung has not yet given an official response to the said news. It is worth noting that the US government, under the new chip law, will return some of the costs necessary to establish a factory in this country to the companies.

The US Department of Commerce has announced that government aid will cover up to 15% of the costs of building new chip factories. Of course, it should be noted that the relevant law was approved about three years ago, and since then, we have seen a significant increase in wages, construction costs, and raw materials. For this reason, Samsung and other private companies have to spend more money from their own pockets to build new factories.

The new Samsung factory is located in Taylor, Texas, and will welcome 2,000 high-tech jobs. It is expected that this factory will produce advanced chips for various things such as artificial intelligence, 5G connectivity and smartphones. The Koreans are trying to finish the construction of their new factory by 2024, two years ahead of schedule.

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