TSMC approved for Shanghai investment

Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest wafer foundry, was approved by the Taiwan government to invest a total of US$371 million in its Shanghai unit over the next three years. Taiwan's Ministry of Economic Affairs announced that it approved a second-stage review of TSMC's mainland investment, which will allow the company to move eight-inch wafer equipment to the mainland for production of wafers with technology that does not exceed that of 0.25 microns. The investment requires cabinet approval, which the ministry said is merely an administrative procedure and should be completed within two weeks.