By Gabby Chen

(JW Insights) May 23 -- The construction of the microwave device and module project starts in Hefei, eastern China's Anhui Province, for semiconductor company IC Valley Microelectronics (芯谷微电子), JW Insights learned.

A ground-breaking ceremony for the project was held on May 18. The construction contractor is China Electronics System Engineering No. 3 Construction (CESE3中国电子第三建设).

The production base will cover an area of 55 mu (36,667 square meters) and a total construction area of 60,000 square meters. It has a planned annual production capacity of 6 million microwave chips, 6,000 microwave and transmit/receive modules, said CESE3.

Founded in 2014, the Hefei-based IC Valley Microelectronics mainly provides microwave and millimeter wave integrated circuits for electronic devices. With advanced GaAs and GaN processes, the company offers a wide range of components such as power amplifiers, high power GaN die, switches, attenuators, phase shifters, frequency multipliers, mixers, and VCOs (voltage controlled oscillator).

On May 5, the Shanghai Stock Exchange officially accepted the listing application of IC Valley on the STAR Market. The company plans to raise RMB850 million ($120.59 million) for further investment in microwave chip development, according to a JW Insights report in early May.