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Semiconductor research and manufacturing investment plans in Europe to be announced by Intel on Tuesday

Intel has been on a factory-building spree in the midst of a global semiconductor shortage. It also announced plans in January to invest up to $100 billion to build potentially the world’s largest chip-making complex, in the US in the state of Ohio

Hinting about finalisation of locations for new factories, Intel plans to announce on Tuesday about its investment plans for semiconductor research and manufacturing in Europe.

Plans to invest as much as $95 billion in Europe over the next decade were unveiled by Intel last September and Patrick Gelsinger, the Chief Executive said in January that the company would announce the chosen manufacturing sites in coming months.

For companies such as Intel to benefit, the European Commission, in February, proposed legislation to help establish factories for advanced semiconductors by subsidising local development.

Currently, Intel produces semiconductors in Europe at a plant in Ireland. Its new factories will be producing advanced chips. Intel might open allied units in France and Italy, with main factory in Germany, according to two sources familiar with the matter.

The small city of Magdeburg will likely be the location for the German factory.

By setting aside more than four billion Euros ($4.39 billion) until 2030, Italy also plans to attract chipmakers to boost domestic chip manufacturing.

An Intel spokesperson declined to give more details on it plans for Europe ahead of the announcement.

Intel has been on a factory-building spree in the midst of a global semiconductor shortage. It also announced plans in January to invest up to $100 billion to build potentially the world’s largest chip-making complex, in the US in the state of Ohio.

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khushbu
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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