Samsung is forced to invest $25 billion instead of $17 billion in the construction of a new plant in Texas

Samsung will have to spend a lot more to set up a facility in the United States. Price

construction will increase almost one and a half times compared to the original plan.

What is known

Samsung announced a desire to build in Texasnew plant to serve customers in the semiconductor sector. The estimate of the manufacturer from South Korea assumed the allocation of $ 17 billion for the construction of a second enterprise. According to new data, the company will have to spend $25 billion.

An $8 billion budget increase was driven by an increaseconstruction costs. The US government is ready to allocate $39 billion in subsidies over the next five years, but the US Department of Commerce believes that subsidies will cover no more than 15% of the cost of building factories.

Samsung wants to complete the new venture by 2024 and start production in 2025. The plans are justified by the company's desire to claim tax deductions when purchasing equipment.