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Italy wants to spend billions to attract Intel to itself

Italy wants to spend billions to attract Intel to itself

Italy is one of the European countries currently striving to acquire the chip giant.


Intel is being developed in the European Union, but it is not yet known where / photo.  Christian Wediger, Unsplash.com
Intel is being developed in the European Union, but it is not yet known where / photo. Christian Wediger, Unsplash.com
 

Italy has already set up a new $4.6 billion fund to encourage the chip maker to expand its operations in Europe.

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As Amazon did for its second headquarters in the US, Intel is “going shopping” in the sense that it wants to get European countries to pledge specific funds to help support the construction of chip factories in a particular region. Of course, it is not only finances that are most important here, but it is undeniable that it is a basic argument.

Italy has prepared a fund of $ 4.6 billion that will largely provide funds for Intel investments. Besides Italy, Germany and France are also potential locations for new factories (small and large) and corporate offices.

While the European Union wants to have its own advanced chip manufacturing industry, Intel wants to build at least two new semiconductor manufacturers in Europe. The company also announced that its plans for future investments could reach 80 billion euros over the next decade.

One of the reasons for building an Intel chip plant in Italy is that the company is currently in the process of acquiring Tower Semiconductor, which has plants in Italy as well as America and Japan. The company’s Italian plant is located near Milan, where ST Microelectronics is also building a new plant that will begin production later this year to produce chips for applications such as power management.

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Intel, in turn, is trying to reduce dependence on Asian countries. The plans assume that by the end of this decade, 30% of chips will be manufactured in the US (up from 12%) and 20% in Europe (up from 9%).

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