Apr. 17, 2008 (China Knowledge) - Powerchip Semiconductor Corp, Taiwan's largest memory chip maker, said it has won board approval to issue US$350 million worth of transferable bonds in a private placement to help fund construction of two chip plants.

The Taiwan-listed company broke ground the two plants on April 9 with a planned total investment of NTD 250 billion (US$8.16 billion), which are expected to more than double its capacity to 250,000 pieces annually when commencing operations as early as the second half of 2009.

Powerchip posted a net loss of NTD 12.33 billion in 2007, compared with NTD 27.33 billion gains a year earlier.