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Intel (NASDAQ:INTC) is still discussing building a fab in Italy as part of its plan to invest $77.5B in Europe over the next decade but the long-running process is still not finalized, an Italian legislator said.
Industry Minister Adolfo Urso said on Wednesday that the European country had offered subsidies to Intel for the plant, Reuters reported. While the company has not asked for anything additional, a deal is not yet final, the news outlet added.
In January, Intel (INTC) CEO Pat Gelsinger told an Italian newspaper that the country was “still in the game” for the upcoming foundry, but so were others. Italian Prime Minister Giorgia Meloni said in December that she would meet with Intel (INTC) to coordinate the semiconductor giant’s investment in the country.
In August 2022, it was reported that Italy was close to signing a deal that could be worth $5B initially with the Italian government to build a packaging and assembly plant in the country. At the time, the government of former Prime Minister Mario Draghi hoped to have an agreement by the end of August, but that did not happen.
One month later, it was reported that Intel (INTC) had picked the town of Vigasio in the Italian region Veneto, roughly 70 miles west of Venice, for its new multi-billion dollar chip factory in the European country.
