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Taiwan Semiconductor Manufacturing Co. outlined ambitious expansion plans for its $165 billion chip-making complex in north Phoenix, with the company’s CEO praising production quality at the plant as comparable to that in Taiwan.

Chairman and CEO C.C. Wei also said TSMC isn’t engaged in discussions with any other companies regarding a joint venture or technology licensing, transfer or sharing agreements, quashing unsubstantiated rumors that TSMC was mulling a possible deal with Intel, which operates a large chipmaking complex in Chandler.