October 24, 2021 19:23 PM
Rome is already negotiating with Intel on a potential investment. According to preliminary estimates, the value of this investment will exceed 4 billion euros.
Three sources said that Rome is drafting a proposal to try to persuade Intel to invest billions of euros to build an advanced chip manufacturing plant in Italy. At present, Intel seems to be most inclined to build a larger giant factory in Germany.
The plant will be part of Intel’s efforts to build cutting-edge manufacturing capabilities in Europe to help avoid the type of chip supply shortage that currently severely affects the automotive industry in the future.
According to sources involved in the discussion, Rome is already negotiating with Intel on potential investments. According to preliminary estimates, the value of this investment will exceed 4 billion euros (4.7 billion U.S. dollars).
One of them said that the total amount may even reach about 8 billion euros, depending on Intel’s plan. The source declined to be named due to confidentiality of the details.
The source said that Rome intends to use public funds to provide part of this investment, and to provide Intel with preferential terms including labor and energy prices.
One of the sources told Reuters, “The government is preparing a very detailed proposal, and the goal is to reach an agreement before the end of the year.”
“The negotiation with Intel has entered an advanced stage. No agreement has been reached yet, but if the government works hard in this regard, it is very likely to build a factory in Italy.” Intel declined to comment on its plans.
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