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Intel has shelved investment in Italy, minister says
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Intel has shelved investment in Italy, minister says
Mar 14, 2024 12:35 PM

ROME, March 14 (Reuters) -

Intel ( INTC ) has postponed

plans

to invest in Italy, the country's industry minister said on

Thursday, after a project to build an advanced packaging and

chip assembly factory first mooted in March 2022 was never

finalised.

The US technology company has "given up or postponed its

investments in France and Italy, compared with others that it

plans in Germany," Minister Adolfo Urso told reporters in the

northern Italian city of Verona.

He said Italy remained keen to welcome Intel ( INTC ) if it

should change its mind and fulfill its previous plans for

European investment.

"If it decides to complete those projects, we are still

here," Urso said.

The minister added that Italy will soon see more foreign

investment in its semiconductor sector following a $3.5 billion

deal announced

this week

involving Singapore-based Silicon Box.

He said that deal was the first major foreign investment

in the sector and "there will be others in coming months."

A ministry task force held talks with Taiwanese groups

in recent months, Urso added.

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