Taiwan Semiconductor Manufacturing Company (TSMC) has received the green light to build a new research and development center touted as the Taiwanese version of Bell Labs, the birthplace of various historic innovations, including the telephone.

The project, the largest to be implemented at Hsinchu Science Park in 20 years, aims to advance the chip production prowess of the world's largest chipmaking foundry. Focus will be placed on developing 3 and 2 nanometer manufacturing process technology for its high-end semiconductors, reported Liberty Times.

Taking up 18.7 out of 32 hectares of the whole facility, the R and D center can accommodate 8,000 staff members. TSMC currently boasts a 6,000-strong R and D talent pool. The project is slated for completion next year.

TSMC's stock rallied to a one-month high at NT$306 (US$10.23) on Thursday (June 4), recouping losses over the past week amid worries the company's prospects might be negatively impacted by U.S. moves to further sanction Huawei, a major client of TSMC.

TSMC is expected to deliver a 14 to 19 percent rise in revenue this year, buttressed by advanced technologies and robust demand from clients including Apple, AMD, NVIDIA, Qualcomm, and MediaTek, wrote CNA.

© Pakistan Press International, source Asianet-Pakistan