Italy is close to clinching a deal initially worth US$5 billion with Intel Corp to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions said yesterday.
Intel’s investment in Italy is part of a wider plan announced by the US chipmaker earlier this year to invest US$88 billion in building capacity across Europe, which is striving to cut its reliance on Asian chip imports and ease a supply crunch that has curbed output in the region’s strategic auto sector.
Asking not to be named due to the sensitivity of the matter, the sources said the
/PRNewswire/ LCY Group Chairman Bowei Lee attended the 2022 SelectUSA Investment Summit, the highest-profile event hosted by the U.S. Department of Commerce.