Euro News Source
No Result
View All Result
Monday, August 8, 2022
  • Login
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
Subscribe
Euro News Source
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
No Result
View All Result
Euro News Source
No Result
View All Result
Home News Italy

Exclusive: Italy, Intel close to $5 bln deal for chip factory – sources

by Francesco Mazzagatti
August 4, 2022
in Italy
A A
0
152
SHARES
1.9k
VIEWS
FacebookTwitterLinkedin

The Intel Corporation logo is seen on a display in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo GLOBAL BUSINESS WEEK AHEAD

Register now for FREE unlimited access to Reuters.com

  • Initial investment in Italy is worth $5 billion
  • Italy working to have deal in place by end-August
  • Intel, Rome eye sites in Piedmont, Veneto regions

ROME, Aug 4 (Reuters) – Italy is close to clinching a deal initially worth $5 billion with Intel (INTC.O) to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions told Reuters on Thursday.

Intel’s investment in Italy is part of a wider plan announced by the U.S. chipmaker earlier this year to invest $88 billion in building capacity across Europe, which is striving to cut its reliance on Asian chip imports and ease a supply crunch that has curbed output in the region’s strategic car sector. read more

Asking not to be named due to the sensitivity of the matter, the sources said the government of outgoing Prime Minister Mario Draghi was working to have an agreement in place by the end of August, ahead of a snap national election scheduled on Sept. 25.

Register now for FREE unlimited access to Reuters.com

Sources have previously told Reuters that Rome is ready to fund as much as 40% of Intel’s total investment in Italy, which is expected to rise over time from the initial $5 billion. read more

Draghi’s office and Intel both declined to comment.

The factory would use new technologies to weave together full chips out of tiles.

Intel and the government have shortlisted possible sites in two Italian regions, the sources said, with one of them adding they are located in the northern regions of Piedmont and Veneto.

A final decision on where to build the facility is yet to be made, both the sources said. The Lombardy, Apulia and Sicily regions had also been considered initially.

The total size of Intel’s investment and how Italy plans to fund its share of it is not yet clear.

Under the so-called Chips Act aimed at funding innovative semiconductor facilities, the European Commission early this year said it had made available 15 billion euros in additional public and private investment by 2030. This is on top of 30 billion euros of public investments already planned from NextGenerationEU, Horizon Europe and national budgets.

Rome so far has set aside 4.15 billion euros until 2030 to attract chipmakers and invest in new industrial applications of innovative technologies. read more

The government is also in talks with French-Italian STMicroelectronics , Taiwan chipmakers MEMC Electronic Materials Inc and TSMC (2330.TW), and Israeli Tower Semiconductor (TSEM.TA), which Intel bought earlier this year.

STMicroelectronics last month signed a pact with GlobalFoundries to build a $5.7 billion chip factory in France. read more

($1 = 0.9827 euros)

Register now for FREE unlimited access to Reuters.com

Reporting by Giuseppe Fonte in Rome and Giulio Piovaccari in Milan, additional reporting by Supantha Mukherjee in Stockholm and Jane Lanhee Lee in Oakland; editing by Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.

Source: Reuters

Tags: AMERSANLINSAsiaASXPACBACTCEEUCHCHIPCHIP1CMPNYDEDEAL1EASIAEF:TECHNOLOGY-DISRUPTEDEMRGEREPEUROPEXCLSVEZCFINFRGENILITMEASTMTPIXNAMERNEWS1POLPUBLSEMEQSEMISEMQTSWASIATECHTECH08TEEQTEEQ08TMTTOPCMBTOPNWSTWUSWEU

Related Posts

Italy

WW2 bomb revealed in drought-hit waters of Italy’s River Po

August 7, 2022
Italy

Italy’s centre-left dealt blow as centrist party quits electoral pact

August 7, 2022
Italy

Italy’s centre-left dealt blow as centrist party quits electoral pact

August 7, 2022
Italy

Russia’s Chubais discharged from Italian hospital after treatment, report says

August 7, 2022
Italy

Italian centre-left alliance boosted as another group signs up

August 6, 2022
Italy

Moody’s cuts Italy’s outlook to ‘negative’ from ‘stable’

August 6, 2022
  • Trending
  • Comments
  • Latest

Woman livestreams fatal stabbing of half-sister

October 25, 2021

Prison sentences for protestors who pray outside abortion clinics in Spain

February 4, 2022

Investigation opened into porn video recorded on altar of Flemish church

November 3, 2021

Where is Gary McCrea now?

March 24, 2022
Freedom Day

Freedom Day

0
Fire Accident

Fire Accident In Iraq

0
Scotland

Advice from the Scotland Prime Minister

0
Brexiteers

Brexiteers Should Thank The EU

0

Erling Haaland! Lionel Messi! Tottenham! Man Utd… Football, football (and volleyball), almost everywhere – The Heat-Up

August 8, 2022

‘I’ve been in some truly darkish places’ – Nick Kyrgios claims Citi acquire to crack title drought in advance of US Open up

August 8, 2022

Commonwealth Game titles 2022: England’s girls skip out on dramatic 4x400m relay gold just after disqualification

August 8, 2022

Tottenham Hotspur 4-1 Southampton: Antonio Conte’s rampant Spurs come from behind to demolish sorry Saints

August 8, 2022

Recent Posts

Erling Haaland! Lionel Messi! Tottenham! Man Utd… Football, football (and volleyball), almost everywhere – The Heat-Up

August 8, 2022

‘I’ve been in some truly darkish places’ – Nick Kyrgios claims Citi acquire to crack title drought in advance of US Open up

August 8, 2022

Commonwealth Game titles 2022: England’s girls skip out on dramatic 4x400m relay gold just after disqualification

August 8, 2022

Tottenham Hotspur 4-1 Southampton: Antonio Conte’s rampant Spurs come from behind to demolish sorry Saints

August 8, 2022

Eurovision 2023: Newcastle joins list of United kingdom towns battling it out to hold music contest

August 8, 2022

Last Lap – Nagashima comes dwelling to acquire the Suzuka 8 Hrs earn for Honda

August 8, 2022

Recent Posts

  • Erling Haaland! Lionel Messi! Tottenham! Man Utd… Football, football (and volleyball), almost everywhere – The Heat-Up
  • ‘I’ve been in some truly darkish places’ – Nick Kyrgios claims Citi acquire to crack title drought in advance of US Open up
  • Commonwealth Game titles 2022: England’s girls skip out on dramatic 4x400m relay gold just after disqualification
  • Tottenham Hotspur 4-1 Southampton: Antonio Conte’s rampant Spurs come from behind to demolish sorry Saints
  • Eurovision 2023: Newcastle joins list of United kingdom towns battling it out to hold music contest

Categories

  • Austria
  • Bahamas
  • Belarus
  • Belgium
  • Breaking News
  • Brexiteers
  • Business
  • China
  • COVID Cases
  • Covid-19
  • Cyber security
  • Debt
  • Economics
  • Energy
  • England
  • Fashion
  • Fire Accident
  • Food
  • France
  • Freedom Day
  • Germany
  • Health
  • Human Launch
  • Humanitarian
  • Ireland
  • Italy
  • Netherlands
  • News
  • Norway
  • Opinion
  • Politics
  • Refugees
  • Russia
  • Russia
  • Rwanda
  • Saudi Arabia
  • Science
  • Scotland
  • Scotland
  • Spain
  • Spanish-Flu
  • Sports
  • Switzerland
  • Travel
  • Ukraine
  • United Kingdom
  • Videos
  • Wales
  • Zambia

Site Navigation

  • About
  • Advertise
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
Euro News Source

Euro News Source is one of the best sources of European News. We provide the latest news from the European Union and its member states, local and international political, economic and sports news. Follow us to receive all news from around the European Union.

© 2021 Euro News Source.

No Result
View All Result
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videos

© 2021 Euro News Source.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?