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Intel wants to increase its production capacity in Europe
Intel’s investment in Italy is part of a broader plan announced by the US chip maker in early 2022. The company plans to invest $88 billion to increase production capacity in the European region. The goal: to reduce Europe’s dependence on Asian manufacturers and try to alleviate the shortages that forced the auto sector to reduce.
The plant will use new technologies to manufacture complete chips of tiles.
An agreement can be reached by the end of August
According to these sources, the government of outgoing Council President Mario Draghi is trying to conclude an agreement with Intel by the end of August, before the early national elections scheduled for September 25.
Mario Draghi and Intel Services declined to comment on the information.
Italy can finance nearly 40% of the project
Other sources had earlier indicated that Italy could finance up to 40% of Intel’s total investment in its territory. From an initial $5 billion, the latter should increase over time.
Pre-selected potential locations
According to the sources, Intel and the Italian government have pre-selected potential sites in two regions: Piedmont and Veneto.
The final decision on where to build the plant has not yet been made.
Discussions with other manufacturers
The Italian government is also in discussions with French-Italian company STMicroelectronics, Taiwanese chip makers MEMC Electronic Materials and TSMC, and Israel’s semiconductor tower, which was acquired by Intel at the beginning of the year. Last month, STMicroelectronics signed an agreement with GlobalFoundries to build a $5.7 billion chip factory in France.
Italy is about to conclude an agreement with Intel for the construction of a semiconductor packaging and assembly plant on its territory. Information sent to Reuters by two sources familiar with the matter.
The initial amount shown on the table: $5 billion (4.91 billion euros).
The announcement comes as car groups around the world are facing major problems with a shortage of electronic chips, which are increasingly essential components of the automobile manufacturing process.