Philips
Semiconductors will build a $1.2 billion chip fabrication plant
with Taiwan Semiconductor Manufacturing
and the investment arm of Singapore's economic development board.
Construction in Singapore is slated to start in early 1999. The plant will
employ 875 people when production of 0.25 and 0.18 micron chips peaks in
2003. Philips will own 48 percent of the venture, while TSMC will hold 32
percent and EDB Investments 20 percent.