By Li Panpan

(JW Insights) Apr 26 -- Chinese power chip manufacturer ZGX Semi (中工信半导体) plans to invest RMB3.8 billion ($549.02 million) in building a new fab in Huizhou, southern China’s Guangdong Province, said the company at the project's signing ceremony organized by local government on April 24.

The fab will be for producing power semiconductor chips, modules, and MEMS pressure sensors, with an expected annual sales volume of RMB5 billion ($722.66 million), said the local government.

Located in Huizhou, Guangzhou Province, ZGX Semi is a subsidiary of ZGX Group in Hong Kong, and it focuses on manufacturing of chips, semiconductor equipment, packaging, testing, and the production of silicon single crystal materials larger than 6 inches, said its website.