Intel announced on October 20 that it will convert its fab in Dalian, China, from making processor chips on the 65nm process to making 3D-NAND Flash chips, which is currently the most advanced memory chip product. Intel also stated that it will invest up to US$5.5 billion in this project and work with the local government in its implementation. The Dalian fab is scheduled to begin producing memory chips in the second half of 2016.