Intel close to $5 billion deal with Italy to build chip factory to reduce reliance on Asia

guest · Aug 4, 2022

August 4, 2022

Intel and Italy are close to a $5 billion deal to build a chip factory in the southern European country, according to Reuters. The factory will be involved in advanced semiconductor packaging and the assembly of chips. The details were leaked to the press by two sources that had been briefed on what was happening.

The Italian government and Intel have both refused to be drawn into commenting on the situation. It was suggested by the sources, however, that the outgoing Prime Minister, Mario Draghi, wants to have an agreement in place by the end of August ready for the next general election due to take place on September 25.
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According to the sources, Piedmont, Veneto, Lombardy, Apulia, and Sicily had originally been considered as locations for the factory. This list has been whittled down to Piedmont and Veneto, but a final decision still needs to be made.

It’s possible that Italy could fund almost half the cost of the factory, should it go ahead.
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Intel close to $5 billion deal with Italy to build chip factory to reduce reliance on Asia

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Intel close to $5 billion deal with Italy to build chip factory to reduce reliance on Asia

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