The first phase of the Integrated Circuit (IC) Standard Fab factory in the Beijing Economic-Technological Development Area (BDA) is nearing completion with the project now at the main building decoration stage, according to local media.

It is expected to be completed by the end of November.

The output value of the project will eventually reach 10 billion yuan ($1.47 billion).

The first phase of the factory measures some 90,000 square meters and will be used for processing 12-inch chips, according to Zhang Xiaolong, executive manager of the project.

The Standard Fab project, invested by Beijing E-Town Integrated Circuit Technology Co, will cover an area of 190,000 square meters and consist of single buildings including production buildings, COB and power plants.

It will be mainly used for SMIC's 12-inch wafer production. It will produce 50,000 12-inch wafers per month. The production value is expected to hit 10 billion yuan.

It will also provide standard factory space for the manufacturing of IC companies in such fields as image sensors and memories.