The American corporation Intel agreed with the Italian government on a site for the construction of an enterprise for the production of semiconductors. The plant will be built in the city of Vigasio, which is located in the north-east of the country.
Intel's investment in Italy is part of a broader plan announced by the company last March. The manufacturer intends to invest up to €80 billion in building capacity across Europe over the next decade.
Intel's initial investment in Italian production is about €4.5 billion. The company promises that the plant will create 1.5 thousand jobs, as well as another 3.5 thousand vacancies among suppliers and partners. The launch of the enterprise will take place in 2025-2027.
The Italian plant will be at the forefront of semiconductor packaging and assembly.
The production site in Vigasio has good transport links with Germany, in particular, with the city of Magdeburg, where Intel will build two factories, Reuters source said. The company initially considered the location of the Italian plant in the regions of Lombardy, Apulia and Sicily.
Aides to current Italian Prime Minister Mario Draghi have entered into informal talks with the government's likely successors to avoid any risk that the Intel deal will be challenged by the new authorities, the sources added. They noted that the choice of region for the production site is politically sensitive.
In March 2022, Reuters reported that the Italian government had pledged to fund up to 40% of Intel's total investment in the country. In addition, Rome is negotiating with Franco-Italian STMicroelectronics, Taiwanese MEMC Electronic Materials and TSMC, and Israel's Tower Semiconductor to stimulate domestic chip production. Intel acquired the last company in February this year for $5.4 billion.
In September, Intel opened a construction site in Ohio that will house two semiconductor manufacturing plants. The company plans to invest $20 billion in enterprises. A month earlier, Intel and Brookfield announced a partnership to finance chip factories in Arizona. The companies intend to invest $30 billion in the project.
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