The board of Taiwan Semiconductor Manufacturing Company (TSMC) has approved capital appropriations of about US$6.5 billion for the construction of new fab facilities, installation, expansion and upgrade of advanced technology capacity, as well as installation of specialty technology capacity.

TSMC disclosed during an investor conference in July that capex this year will exceed US$11 billion, with the actual figure to be unveiled at its next investors meeting in October.

In addition, TSMC's board also approved the promotion of company deputy CFO Wendell Huang to VP, CFO and spokesperson effective September 1, 2019. Lora Ho, the current TSMC CFO, will be dedicated to supervising the pure-play foundry's Europe and Asia business.

Ho at TSMC's most recent investors meeting remarked that strong demand for 5G-related solutions from some major clients has encouraged the foundry to spend more this year expanding further its 7nm process production capacity and building up capacity for its newer 5nm node. TSMC estimated previously 2019 capex at between US$10 billion and US$11 billion.

By: DocMemory
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