Intel has chosen the Veneto region to build a plant in Italy

Intel has chosen the Veneto region to build a plant in Italy

Intel, in cooperation with the Italian government, has chosen Vigasio in the region of Veneto as the preferred location for a new chip manufacturing plant, according to two sources familiar with the matter.Investments in Italy are only part of a broader plan for Intel, reported by the U.S. chip manufacturer last March to invest up to 80 billion euros ($77.5 billion) over the next decade in capacity building in Europe.

The primary investment of about four billion euros is expected to grow over time, and Intel said 1,500 jobs will be created at the Italian plant, plus another around 3 thousand jobs among suppliers and partners, and operation will begin between 2025 and 2027.

The factory in Italy will become an advanced semi-conductor packaging and assembly company using new technologies to manufacture ready-made chips from tiles. The sources, who asked not to be named because of the sensitivity of the issue, said that the parties worked out a comprehensive agreement in detail in early September, but no public statements will be made before the publication of the results of the general elections in Italy.

Located near Verona, on a strategically important railway and highway, Vigasio is the preferred option of two locations that also include one in Piedmont, the northwestern region. Among other things, the place is well connected with the German city, in particular, with Magdeburg, where Intel will arrange two factories, as one source stated. The sources declined to provide additional information, but earlier Reuters reported that Rome is ready to finance up to forty percent of Intel's total investment in Italy.