An investment of up to 80 billion euro in Europe over the next decade is what Intel has confirmed. The initial outlay for the facility is 17 billion dollars.
Two factories will be part of the mega-site. Construction is expected to start in the first half of next year if Intel gets the go-ahead from the European Commission. The production should begin in the year 2027. The plant won't help offset the global chip shortage any time soon.
The Angstrom-era transistor tech will be used in the dual plants. It expects to create 7,000 construction jobs for the duration of the build, 3,000 permanent positions and thousands more jobs across partners and suppliers.
Intel will invest another 12 billion dollars to expand a factory in Ireland. It will double the manufacturing space there. The company is in discussions with Italy to build an assembly and packing facility there at a cost of up to $5 billion.
The European research and development hub will be built by Intel. 450 of the 1,000 jobs it expects to create will be open by the end of the year. Intel wants to set up its main European design center in France. Poland and Spain will get more investments.
The plan is centered around balancing the global supply chain with a major expansion of Intel's production capacities in Europe.
The EU Chips Act will allow private companies and governments to work together to advance Europe's position in the Semiconductor sector.
The article originally appeared on Engadget.
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