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from Broadcom (Nasdaq: AVGO) in an EU-backed program to boost semiconductor capacity in Spain, according to CEO Charlie Kawas.
Kawas V. said a tweet Thursday.
Kawas also thanked Spanish Prime Minister Pedro Sanchez for his support and determination to build a resilient global semiconductor value chain.
Reuters said that the project, in which Broadcom will be involved, could be worth $1 billion mentioned Quoted from the Spanish Ministry of Economy.
However, the company did not provide details of the amount it will invest.
The ministry added that the program will include the construction of “large-scale semiconductor facilities that are unique in Europe”. The location has not been finalized yet.
The Spanish government aims to provide up to €12 billion (~$13 billion) in EU pandemic relief funds that the country is set to receive to support the development of the semiconductor industry, according to the report.
Prior to Broadcom, the Spanish government disclosed that Cisco Systems Inc. (CSCO) was planning to open a new slide design center in Barcelona.
Following the supply chain disruptions seen in the recent past, countries have been preparing to boost the supply of semiconductors. Earlier this week, Thierry Breton, EU Internal Market Commissioner, stressed increased semiconductor cooperation with Japan.
US technology company Intel Corporation (INTC), in June, announced plans to set up chip factories in Germany and Poland as part of a larger $88 billion investment agenda in Europe over the coming years to boost semiconductor capacity.
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