2 German Fabs Are First Phase of Intel’s $36.2B Chip Investment in Europe

Intel will make an “initial investment” of more than 33 billion euros ($36.2 billion) to boost semiconductor manufacturing and R&D in France, Germany, Ireland, Italy, Poland and Spain, said the chipmaker Tuesday. The investment program “is centered around balancing the global semiconductor supply chain with a major expansion of Intel’s production capacities in Europe,” said Intel. The project's “initial phase” includes two “first-of-their-kind” semiconductor fabs in Magdeburg, Germany, it said. Planning the site will start immediately, with construction expected to begin in the first half of 2023 and production planned to come online in 2027, pending European Commission approval, it said. Ohio offered Intel $1.3 billion in “direct cash incentives” to entice the chipmaker to invest $20 billion to build two semiconductor fabs on a 1,000-acre campus just east of Columbus (see 2201280047).