Silicon Box to invest $3.50 billion in new chip plant in northern Italy

Singapore-based semiconductor firm Silicon Box will invest 3.2 billion euros ($3.50 billion) in a new plant in northern Italy under a government-backed deal, the country’s industry ministry said on Monday.

The project is part of long-standing Italian efforts to attract investment from tech companies since a deal with U.S. firm Intel has never been finalised.

“At full capacity, the investment will be able to generate 1,600 new direct jobs, in addition to the indirect jobs generated both for the construction of the (facility) and in the wider supply and logistics ecosystem involved when fully operational,” the statement said. Reuters