The US administration will provide Texas Instruments to 1.6 billion dollars in the form of direct financing to increase the production of microcircuits in the country.
The US Department of Trade reported that the preliminary agreement with Texas Instruments was concluded under the Chips and Science Act law aimed at strengthening the stability of the internal supply chain, increasing the national security and competitiveness of the United States in the production of semiconductors.
According to this information, to increase the capacities of the production of microcircuits in the country, a direct funding of up to 1.6 billion dollars will be provided as part of the company’s agreement. Financing will support the investment of Texas Instruments in the amount of more than 18 billion dollars in the construction of three new modern enterprises.
Two enterprises will be in Texas and one in Uta, and as a result of investments, more than 2 thousand jobs are expected to create.
The ministry’s statement also states that in addition to direct funding, the company will be provided with a credit line of about $ 3 billion.
The US administration announced that it would provide financing to various companies in order to produce 20 percent of the most advanced semiconductors in the world by 2030, including giant technological companies as Samsung, TSMC and Intel.