Intel fleshed out plans to spend more than €33 billion on boosting chip manufacturing in Europe, the first phase of a wider investment plan to inject €80 billion into the sector over the next decade.
At a press event, Intel explained its investment aimed to help balance the global semiconductor supply chain with a major expansion of its manufacturing capacity, as well as laying the ground to bring various parts of the value chain closer together and increase resilience in Europe.
The company first revealed its massive European spending plans in September 2021.
In its latest announcement, it revealed how it would spend an initial €33 billion, ploughing €17 billion into two new semiconductor plants in Magdeburg, Germany. The country’s infrastructure and ecosystem of suppliers and customers made it the ideal place to establish a new hub, Intel explained.
The two plants will create 7,000 construction jobs over the course of the build and 3,000 permanent high-tech roles, along with tens of thousands of additional jobs across suppliers and partners.
Alongside this, Intel plans to invest €12 billion into an existing facility in the Republic of Ireland to double manufacturing space and improve processes, as well as expand its foundry services.
It will also spend a potential €4.5 billion in Italy, create a new R&D and design hub in France, and make further investments in Poland and Spain.
CEO Pat Gelsinger said its investments were major steps for the company and Europe, while he pointed to the EU Chips Act as further helping to boost the continent’s semiconductor sector.
“We are committed to playing an essential role in shaping Europe’s digital future for decades to come,” he said.