Intel and Italy are intensifying talks over investments expected to be worth around €8 billion ($9 billion) to build an advanced semiconductor packaging plant, two sources close to the matter told Reuters.
A deal of this size would secure Italy about 10% of the €80 billion the US company is looking to spend over the next decade in Europe on cutting-edge manufacturing capacity to help avoid future shortages of semiconductor chips.
Sources had previously told Reuters that the investment size was in a €4-8 billion range. As part of this plan Germany, the European Union's largest economy, is in the lead to land Intel's planned European 'megafab' plant, although France remains in the running, Reuters reported in October.
Intel declined to comment on Thursday on the talks or the size of investment.
Published in The Express Tribune, December 24th, 2021.
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