ROME : Italy is ready to fund as much as 40per cent of Intel's total investment to build a chip packaging and assembly plant in the country, worth an initial $5 billion but which is expected to rise over time, two sources familiar with the matter said.
The Italian facility, which is expected to start operations between 2025 and 2027, would create about 1,500 direct jobs and an additional 3,500 jobs among suppliers and partners. "It will be for Brussels to eventually decide how much, but I think Italy will contribute 30-40per cent of the total investment, probably something closer to 40per cent," the source added.
Brussels has made available 15 billion euros in additional public and private investment by 2030, on top of 30 billion euros of public investments already planned from NextGenerationEU, Horizon Europe and national budgets.