MILAN, Jan 20 – Italy is still a potential location for USA giant chipmaker Intel to build a new European chip plant. Intel told Reuters on Friday, as per the report company has a plan to boost production in Europe.
The summary of this news is
- US chipmaker Intel remains committed and excited by the project in Italy
- The Italy project is part of a wider European plan
- As per the Intel CEO, the only option for plant location is Italy
- Italy’s PM has said Intel’s investment is highly strategic
The USA chipmaker will invest 80 billons euros equal to $87 billion in Europe. Magdeburg, Germany will be the mega chip manufacturing complex in the next decade.
However, the deal was never completed by the new right-wing administration, which took office in October. The decisions about the final location and timings were not yet finalized.
Meloni said in December that she considered the Intel Investment in Italy as highly strategic and would like to meet with the company to facilitate the companies in the best possible ways.
An official in Meloni’s administration told Reuters that Intel has started an in-depth assessment of planned investments in Italy, France, and Germany.
The US president Joe Biden is working on a plan to support semiconductor production and research with more $50 billion in subsidies as the USA is committed to keeping up with China’s technology and science efforts.
Economy Minister Giancarlo Giorgetti said on Wednesday the government was determined to secure Intel’s investment.
For more business and tech news visit techfinlay.com
Leave a Reply