Intel and the Italian government have stepped up investment talks to build a plant to pack advanced semiconductor products into packages. This was reported to Reuters by two knowledgeable sources. The investment is said to amount to around 8 billion euros.
A deal of this size will provide Italy with about 10% of the € 80 billion that the American company intends to spend over the next decade in Europe on advanced manufacturing facilities to avoid future semiconductor chip shortages.
Intel has confirmed that it is “in constructive investment negotiations with government leaders in many EU countries,” but declined to comment specifically with Italian officials.
“We are encouraged by the many opportunities to support the EU’s digital agenda and its semiconductor ambitions up to 2030. Although the ongoing negotiations are ongoing and confidential, we plan to make the announcement as soon as possible, ”the company said in a statement.
Sources said Intel and the Italian government are discussing a total investment of € 8 billion over a 10-year period from the start of construction.
They added that the negotiations are difficult and Rome wants Intel to clarify its plans for Italy before formalizing the package of favorable conditions, especially regarding jobs and electricity costs. If the parties agree, the next step will be to select a site for the plant.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
