Taiwan Semiconductor Manufacturing Co. will invest more than NT$500 billion ($15.9 billion) building new plants to meet rising demand for chips.

The new factories in the Central Taiwan Science Park are subject to an environmental-impact assessment and may create 5,000 jobs, the Hsinchu, Taiwan-based company said in a statement today.

TSMC is increasing spending this year to boost production and win orders amid increased competition with Samsung Electronics Co. The company produces chips for Apple Inc. and faces competition from its South Korean rival for contracts to make the chips for the next iPhones.

On Jan. 16, TSMC forecast first-quarter sales of NT$221 billion to NT$224 billion, compared with the NT$203 billion average of 21 analysts’ estimates at the time. Fourth-quarter net income climbed 79 percent to a record NT$80 billion, also beating analyst estimates.

TSMC reported $9.5 billion in capital expenditure last year and forecast that this year’s figure would be $11.5 billion to $12 billion.

By: DocMemory
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