Intel has announced plans to build a new chipmaking complex in Germany.
Intel will build two factories in Magdeburg, Germany, create 7,000 construction jobs, 3,000 permanent jobs, and tens of thousands of additional jobs for suppliers and partners.
Intel’s plans will build on its earlier mission to expand its chip-making plants across countries in Europe. The company plan to invest $88 billion in Europe over the next 10 years.
Apart from Germany, Intel will also take on big projects in other European countries. This includes building a new European research labs hub and creating 1,000 new high-tech jobs in France, increasing its labs space in Poland, and establishing joint labs with the Barcelona Supercomputing Center in Spain for advanced computing.
Other projects include investing an additional 12 billion euros in an existing Irish facility, and a possible chip assembly and packaging plants in Italy. The company plans to invest up to 4.5 billion euros and the plant in Italy is expected to commence operations between 2025 and 2027.
For more information, read the original story in Reuters.