Taiwan Semiconductor Manufacturing Company  (TSMC) and Sony Group are considering joint construction of a semiconductor factory in western Japan amid a global chip shortage, as reported by Nikkei Asia.

The total investment in the project is estimated at 800 billion yen ($7 billion), with the Japanese government expected to provide up to half the amount.

Sony may also take a minority stake in a new company that will manage the factory, which will be located in Kumamoto Prefecture, on land owned by Sony and in an area adjacent to the latter’s image sensor factory, according to multiple people familiar with the matter. The factory will make semiconductors used in-camera image sensors, as well as chips for automobiles and other products, and is slated to go into operation by 2024, the people said.

TSMC and Sony declined to comment on this story.

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