Late on Monday, a South Korean newspaper reported, Samsung Electronics Co Ltd is likely to begin the construction of a planned $17 billion U.S. chip plant during the third quarter of this year and has target to begin operations at the plant in 2024.

In a report, the Electronic Times reported citing unnamed industry sources, Samsung will use an advanced 5-nanometer extreme ultraviolet (EUV) lithography chip-making process at the plant, which is expected to be in Austin, Texas.

In a statement, Samsung said nothing had been decided.

Going by previously documents filed with Texas state officials, Samsung is considering Austin as one of the sites for its new $17 billion chip plant, which could create 1,800 jobs.