16 Mar 2022 -
 General

Intel plans $88 billion European expansion – Forbes

US semiconductor giant, INTEL, plans to set up chip making and R&D facilities in Germany, France and Italy as part of an $80 billion expansion programme over the next decade, writes Forbes.

The project included a €17 billion “mega site” in Magdeburg, Germany, for the production of the scarce and strategically important component, the group said in a statement.

The US group would also develop its research and development centre in France, as well as expanding its facilities in Ireland with a €12 billion funding boost and investing in Italy, Spain and Poland.

The details of the announcement were hotly anticipated in Europe, where governments have been looking to reduce their dependency on imports of chips from Asia by boosting production at home.

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