Intel recently announced its plan to invest €80 billion or $88 billion in Europe alone in the next 10 years. According to the chipmaker, it is building a semiconductor mega-site in Germany, which amounts to €17 billion or $19 billion.
In addition, the tech firm will spend €12 billion or $13 billion to expand the current chip plant based in Ireland.
Intel to Build Chip Factory in Germany
According to a report by The Verge, the Santa Clara-based chipmaker will be constructing a mega-site soon in Europe. The huge semiconductor fab will consist of two factories situated in Magdeburg.
Furthermore, the company is preparing to begin the construction for this site in the first half of next year, following Intel's approval from the European Commission.
It is expected that production of the plant will kick off around 2027. The so-called "Silicon Junction" will start in that period. However, building the new chip plant will not immediately mean that the global semiconductor issue will go down soon.
In connection to this, Intel will rely on the Angstrom-era transistor technology, which will introduce the next-gen products.
Throughout the period of construction, the firm is anticipating that 7,000 building jobs will pave the way for more people, not to mention the 3,000 permanent positions and the arrival of several suppliers and collaborators.
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Intel to Expand Irish Semiconductor Fab
As part of its expansion for its semiconductor fabs in Europe, Intel is also ready to invest €12 billion ($13 billion) in the factory based in Leixlip, Ireland.
Moreover, another series of projects will come on the way, including the €4.5 billion ($4.9 billion) to construct an "assembly and packing" site in Italy.
In the part of France, specifically near Plateau de Saclay, Intel wants to further stretch its service by building a research lab. According to a report from Engadget earlier this week, this will generate 1,000 jobs and out of these numbers, 450 will be opened in late 2024.
Intel also shared its plans to build a foundry design center in a similar country. For another European trip, the firm made a huge mention of Spain and Poland.
As the global chip shortage continues to whip tech companies, Intel is thinking of coping with the issue by means of continuous construction of chip sites in the European regions.
"The EU Chips Act will empower private companies and governments to work together to drastically advance Europe's position in the semiconductor sector," Intel boss Pat Gelsinger said.
He added that this initiative will lift the R&D innovation in Europe to pave the way for the increased "leading-edge manufacturing" in the countries. This would also help their customers and their global business partners.
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This article is owned by Tech Times
Written by Joseph Henry
