Harris Semiconductor (Suzhou) Company Limited

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MIGA issued a $30.6 million guarantee to Harris Advanced Technology (Malaysia) Sdn. Bhd., a wholly owned subsidiary of Harris Corporation of the United States, for the construction of a semiconductor manufacturing and testing plant in China. MIGA's guarantee covers the risks of transfer restriction, expropriation, and war and civil disturbance. The plant is located in the Economic and Development Zone in Suzhou city. It will produce technically advanced, cost-effective electronic components to meet the growing demand for electronics in China. The project expects to reduce the production costs of semiconductors, while increasing their power efficiency quality, thus facilitating the manufacturing of low-cost electronic components for cell phones, pagers, and laptop computers. This project will create approximately 1,300 jobs. Workers will receive on-site training in the manufacturing, testing, and distribution of high-quality semiconductors. Employees will also benefit from several funds established by the investor that will provide medical and housing allowances as well as training. The project is consistent with the host country's policy of encouraging foreign investment in various electronic products used in the manufacturing sector. The project is also expected to generate a significant amount of annual export revenues.

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