By Kate Yuan

GTA Semiconductor (积塔半导体), Shanghai-based analog IC foundry, signed an over RMB 10 billion ($1.47 billion) syndicated loan agreement with eight banks for its 12-inch automotive chip production line, JW Insights reported on January 28.

Led by Shanghai Branch of the Agricultural Bank of China, the bank consortium includes China Development Bank, the Export-Import Bank of China, ICBC, Bank of China, China Everbright Bank, Bank of Communications, and China Merchants Bank, according to Huada Semiconductor, the parent company of GTA.

Founded in 2017, GTA focuses on automotive ICs. Its two fabs in Shanghai provide manufacturing and technology services for microcontrollers, analog circuits, power devices, and sensors for automotive electronics, industrial control and high-end consumer electronics.

Shanghai officially announced major projects in 2023, and GTA's production line project is on the list.