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Samsung C&T, Samsung Electronics almost double cost of finishing new chip line

The project’s total cost is now at 1.46 trillion won ($1.29 billion).

tech Updated: Apr 01, 2019 10:56 IST
Reuters
Reuters
Seoul
Samsung C&T,Samsung Electronics,Samsung chips
Samsung C&T is the construction arm and defacto holding company of the Samsung Group.(AFP)

Samsung C&T Corp and Samsung Electronics Co Ltd have almost doubled the size of a contract related to the construction of a semiconductor production line, taking the project’s total cost to 1.46 trillion won ($1.29 billion).

The contract covers finishing work on the line at Samsung Electronics’ Hwaseong plant on South Korea’s west coast, Samsung C&T said in a stock exchange filing after market close on Friday.

Samsung C&T is the construction arm and defacto holding company of the Samsung Group.

The two companies added 739 billion won to the 723 billion won of the finishing work contract initially signed in September, Samsung C&T said. The work is due for completion by the end of April 2020, it said.

First Published: Apr 01, 2019 10:56 IST