Samsung spends $7 billion to build memory chip plant in Xi'an

Samsung Electronics Co, Asia's largest consumer electronics maker, announced on Tuesday it will open a memory chip factory valued at $7 billion in Xi'an, Shaanxi province, its largest ever overseas investment.

The move signals Samsung's expansion in the Chinese market, and is the largest foreign investment by value in western China.

The Samsung NAND flash factory in the capital city of Shaanxi province is expected to become operational at the end of 2013, with a monthly output of 100,000 units of chips. NAND flash is a type of memory widely used in smartphones and tablet computers.