Two of the world’s largest chip makers, TSMC 2330.TW and Samsung Electronics 005930.KS,are discussing building massive factory complexes in the United Arab Emirates that could transform the chip industry in the coming years, the Wall Street Journal reported on Sunday.

Chip projects in the UAE will likely be worth more than $100 billion, the paper said.

Top TSMC executives recently visited the UAE and talked about a factory complex on par with some of the company’s largest and most advanced facilities in Taiwan, the WSJ said, citing people familiar with the interactions.

South Korea-based Samsung Electronics, which makes smartphones, TVs and memory chips, is also considering major new chip-making operations in the country in the coming years, the newspaper said, citing unnamed sources.

TSMC and Samsung did not immediately respond to a Reuters request for comment.

Senior Samsung Electronics executives recently visited the United Arab Emirates and discussed the idea, the WSJ reported, adding that discussions were still in the early stages and may face technical and other hurdles.

Under the initial terms being discussed, the projects would be financed by the United Arab Emirates, with a central role for Abu Dhabi-based development vehicle Mubadala, according to the WSJ.

The paper added that the broader goal would be to increase global chip production and help lower prices without hurting chipmakers’ profitability.

As technology deals in the region accelerate, Washington is increasingly concerned that the United Arab Emirates and other Middle Eastern countries are becoming a conduit for advanced American artificial intelligence technology reaching China.