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    Italy trying to get Intel to set up a multibillion-dollar chip manufacturing plant in the country

    Owing to the current global chip shortage and supply chain crisis, many countries around the world are currently rushing towards fulfilling their demands for semiconductor chips and chip manufacturers are working their butt off towards manufacturing the chips.

    Rome is currently underway trying to convince the silicon giant, Intel, to invest billions of euros in an advanced chipmaking plant in Italy. This development comes after Germany is reported to be a frontrunner to land an even bigger mega factory planned by the U.S. company, intel.

    The plants would be part of a drive by the U.S. group to build cutting-edge manufacturing capacity in Europe. This plan is set up to help avoid future supply shortages of the kind currently crippling the automotive industry in particular.

    According to sources, Rome is already in talks with Intel about the potential investment, and the investment is estimated to be worth more than 4 billion euros ($4.7 billion). There are rumors that the total value could easily reach around 8 billion euros, depending on Intel’s plans.

    On Rome’s part, the government is offering to fund part of the overall investment with public money and offer favorable terms to Intel, including on labor and energy costs. The factory will reportedly create more than 1,000 direct jobs in Italy, so it’s a favorable decision for the government.

    “The government is preparing a very detailed offer to clinch a deal by the end of the year. Discussions with Intel are at an advanced stage. There is no deal yet, but if the government works hard on this it has a good chance of bringing the plant to Italy.”

    Intel has already planned for its biggest project in Europe which is a mega factory, where Dresden in Germany has emerged as a leading candidate site. However, we could see Intel and Rome concluding in the coming weeks.

    source

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