Doris Hsu, chairman and chief executive officer of GlobalWafers said yesterday that the company expects to begin construction of a new $5 billion fab in Texas in November.

The company said in June that it would build the plant to produce 300mm silicon wafers for semiconductors.

The U.S. has been encouraging tech companies to produce in the country and has welcomed the investment from GlobalWafers. Doris Hsu said the groundbreaking ceremony is expected to take place around the end of November.

“We have received government subsidy proposals not only from the United States, but also from other places. But our assessment looks at the overall situation. The CHIPS Act is a very important factor, but not the only one,” Doris Hsu said.