Intel Has Halted Italian Investment, Minister Says

(CTN News) – Intel’s planned investment in Italy has been postponed, after the country’s industry minister announced on Thursday that the company had postponed plans to build an advanced packaging and chip assembly factory, first suggested in March 2022 but never finalised.

The US technology company has, according to Intel Minister Adolfo Urso, given up or postponed its investments in France and Italy, in contrast to those that it is planning in Germany, according to a statement he gave to reporters in the northern Italian city of Verona.

There was a strong emphasis by the Italian official on the fact that the country was fully committed to welcoming Intel, if it changed its mind, and fulfilling its previous plans for European investment if it changed its mind as well.

It is still possible that we will be able to participate in these projects if the government decides to complete them in the near future.” The statement continued.

Italian industries like Intel semiconductors and mechanical engineering, which benefit from foreign investment, should soon be able to take advantage of increased foreign investments following the announcement this week of the $3.5 billion deal between Singapore-based Silicon Box and the Italian government.

Interestingly, this was the first major foreign investment in the sector, but he anticipates that there will be many more in the months to come, as it is the first major foreign investment in the sector.

According to Urso, a task force comprised of staff from the Ministry of Foreign Affairs has been holding discussions with Taiwanese groups for the past couple of months.

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