Taiwanese memory chipmaker Nanya Technology plans to spend $10.69 billion on a DRAM facility in New Taipei, Taiwan.

The company trails Samsung, SK Hynix, and Micron in dynamic random access memory sales, but is benefiting from a rapidly growing overall market.

Nanya business

"The investment will come over the next seven years and create at least 2,000 new jobs," Chairman Wu Chia-Chau said.

"Construction will start by the end of 2021, and the plant will be completed in 2023 with mass production is set to start in 2024."

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