Intel is in talks with the Italian government about investing in a new chip factory in Italy, and the latter has made an attractive offer, Reuters reported on Oct. 22.
Sources involved in the discussions said that the amount of investment in the plant could be as high as 4 billion euros, one of them even said that the total investment could be as high as 8 billion euros, depending on Intel's final plans. The Italian government plans to use public funds to partially finance the investment, and will provide favorable conditions in terms of labor and energy costs.
Sources also revealed that the Italian government and Intel's negotiations are nearing completion, and the Italian authorities have provided a very detailed proposal in the hope of reaching an agreement by the end of this year.
Sources said the possible sites for the plant include Mirafiori, where Stellantis' Italian headquarters are located, and Catania, where STMicroelectronics is located. Another major plant that Intel has planned in Europe will likely be located in Dresden, Germany.
Intel CEO Pat Gelsinger said last month that the locations of two major new EU chip factories will be announced at the end of the year. The company plans to invest 80 billion euros over the next decade in the region.
Italy May Be Chosen as One of Intel's European Factory Sites