According to industry insiders, TowerJazz has signed an intent agreement with the government of Hefei, Anhui Province, China, to build a factory in the city.

TowerJazz is the world's number one analog chip foundry, and its wafer foundry ranks sixth. According to TrendForce's global wafer foundry rankings for the second quarter of 2019, TowerJazz ranked sixth, with the top five names being TSMC, Samsung, GlobalFoundries, UMC, and SMIC.

In fact, as early as the end of 2018, TowerJazz CEO Russell Ellwanger has revealed that TowerJazz plans to build a factory with the most advanced technology in China, and they are looking for suitable opportunities in this direction.