Benzinga | Jul 16, 2021 09:57AM EDT

Samsung Eyes Second Chip Factory Site In Texas: Bloomberg

* Samsung Electronics Co Ltd (OTC:SSNLF) explores a second location in Texas for its $17 billion U.S. semiconductor plant, Bloomberg reports.

* It is eyeing a six million-square-foot site apart from a previously disclosed expansion of its Austin base.

* Samsung is likely to begin construction at the Williamson Country site around Q1 of 2022, with targeted production by the final three months of 2024.

* The company was in discussions to locate a facility in Austin, Texas, for fabricating chips as advanced as 3 nanometers. It will further intensify chip rivalry with Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM).

* It's also evaluating alternative sites in Arizona, New York, and South Korea.

* Samsung plans to invest $151 billion through 2030 into its foundry and chip design businesses to compete with TSM by offering 3nm chips in 2022.

* Price action: TSM shares traded lower by 0.31% at $117.14 on the last check Friday.