(Reuters) -The stalled chips maker said on Friday that the promised chips manufacturing factories promised 28 billion dollars in Ohio are facing more delay, as it is now expected to be completed by the first factory in New Albanian by 2030 only.
The company said that the first factory will start operations at some time shortly, between 2030 and 2031, the original schedule expanded for at least half a decade.
Intel has reduced capital expenditures after an expensive attempt to become a contract to make contract chips for other companies, in a move to restore its missing glory, its public budget was strained.
Naga Chandrasikran, Director General of Intel Foundry, said in a letter to the employees participating in a press release that the changes made so that Intel could align the operation of the factory with the demand for the market and “capital management with responsibility”.
“We are following a wise approach to ensuring the completion of the project in a financially responsible manner.”
Intel said that the Ohio II factory in the company will complete the construction in 2031 and will start work in 2032.
The shares of the company increased by more than 5 %, but later, some gains are required to trade about 1 %.
Local news outlets reported by Columbus Dispach for the first time about the delay earlier on Friday.
Last year, the company recorded 15 % of its working power, suspended its profits and started a wide -range plan for costs that include huge discounts in its capital expenses in the coming years.
David Zensner, Chief Finance Chairman, told Reuters last month that the company's goal is to ensure that operating expenses were about $ 17.5 billion for 2025.
(Participated in the reports of Arshees Bajwa in Bengalu;
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