US semiconductor company Intel has decided to invest 80 billion euros in Europe for semiconductor production, research and development over the next 10 years.
It is said that it will spend 17 billion euros to build a semiconductor factory in Magdeburg, Germany, a R&D center in France, a packaging and assembly facility in Italy, and 12 billion euros to expand production facilities in Ireland.
As a result, the EUs production expansion competition for semiconductor independence against Asia will intensify, AFP predicted.
Intel CEO Pat Gelsinger said at a press conference that Intels investments will span the entire European Union, from Spain to Poland, because of the need for a more harmonious and resilient supply chain worldwide.
He said semiconductors are more important than ever, and are the brains that power essential digital technologies.
Intel also plans to expand its semiconductor production facility in Ireland at a cost of 12 billion euros and build a 4.5 billion euro packaging and assembly facility in Italy.
[Photo Source: Getty Images]
