As early as mid-March, Intel announced its intentions to build enterprises and research centres in Europe, promising to spend up to US$80 billion over the next ten years, and Italy was the site of a chip testing and packaging facility, and local authorities are now going to choose the area on which it will be built before the end of August.
Reuters explains that this schedule is determined by the 25 September elections, and the outgoing Prime Minister ' s Government, Mario Dragi, is about to conclude an agreement with Intel by the end of August. The construction budget will reach $5 billion by the most modest estimate, and the Italian authorities are willing to subsidize up to 40% of this amount. Piemont is now geographically led by the capital city in Turin and Veneto with the centre in Venice. The first is the second largest industrial cluster in Italy, as well as the centre of a major industrial cluster serving the automobile industry.
The Italian authorities have so far reserved more than 4 billion of the more than 45 billion earmarked for financing the European semiconductor industry until the end of this decade, and it is reported that the Government is also negotiating with the Franco-Italian STMicroectronics, which last month agreed to build a joint venture with GlobalFoundries in France, as well as with the Taiwanese companies TSMC and MEMC Electronic Materials, as well as the Israeli Tower Semiconductor recently absorbed by Intel.