Intel to invest €33 billion in European R&D and chip manufacturing facilities

Source: Intel

Intel today announced the first phase of its plans to invest as much as €80 billion ($88 billion) in the European Union over the next decade. Intel announced that it would invest billions of euros into its research and development (R&D) facilities and manufacturing and chip factories. “Today’s announcement includes plans to invest an initial €17 billion ($18.7 billion) into a leading-edge semiconductor fab mega-site in Germany, to create a new R&D and design hub in France, and to invest in R&D, manufacturing and foundry services in Ireland, Italy, Poland and Spain.” Intel previously announced plans to invest more than $20 billion in the largest semiconductor site in the world in Ohio.

Intel’s press release says that the new investment program is “centered around balancing the global semiconductor supply chain with a major expansion of Intel’s production capacities in Europe.” The first two semiconductor fabs will be in Magdeburg, Germany. Construction is expected to begin in the first half of 2023, and production is planned to come online as early as 2027. The new fabs are expected to deliver chips using Intel’s most advanced technologies.

Source: Intel

The initial investment of €17 billion will create 7,000 construction jobs over the course of the build, and “3,000 permanent high-tech jobs at Intel, and tens of thousands of additional jobs across suppliers and partners.”

Intel will also continue to invest and expand its Leixlip, Ireland project, which will see an investment of €12 billion. The money will be used to double the manufacturing space to bring Intel 4 process technology to Europe and expand foundry services and factories. This project will bring the total investment in Ireland to more than €30 billion.

Intel and Italy also entered into negotiations, and the company will invest up to €4.5 billion to create new factories. The new manufacturing facilities will create 1,500 Intel jobs and 3,500 jobs across suppliers and partners. The operation is expected to start between 2025 and 2027. The company will also make more investments in France, Spain, and Poland, expanding existing and building new facilities. Intel will spend more than €33 billion in the near future as it tries to make big bets on the next generation of technologies.