The Italian government and Intel Corp., Reuters reported, citing two sources familiar with the matterThe town of Vigacio in the North-East of the Veneto region has been selectedAs the preferred location for a new multi-billion euro chip factory in Italy.
Intel's investment in Italy is part of plans the company announced last March. The Intel PlanInvest up to €80bn over the next 10 years(554.4 billion yuan) to increase capacity across Europe.
IT House learned that Intel said,The Italian plant will be operational between 2025 and 2027, the initial investment is about 4.5 billion euros (31.185 billion yuan), which is expected to increase gradually. The plant is expected to create 1,500 jobs, plus 3,500 jobs at suppliers and partners.
The Italian plant will be an advanced semiconductor packaging and assembly plant. According to the source,The parties reached details of a comprehensive agreement in early September. An Intel spokesman declined to comment because the talks are ongoing and confidential.