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Intel To Spend $20B On Ohio Plant: Report

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  • Intel Corp (NASDAQ: INTC) looks to spend $20 billion on a chipmaking hub on the outskirts of Columbus, Ohio, Time reports.

  • Intel will build at least two semiconductor fabrication plants. The hub will likely grow to be the world's biggest silicon-manufacturing site.

  • Intel will begin constructing two fabrication plants on a 1,000-acre site in New Albany, likely to be operational by 2025.

  • Related Content: Intel's France, Germany, Italy Plans: All You Need To Know

  • Intel will use the location as a hub to research, develop and manufacture its most advanced chips and have the option to expand to 2,000 acres and up to eight fabs.

  • The planned investment includes 3,000 permanent jobs on the 1,000-acre site in New Albany, Ohio.

  • Intel considered 38 sites before picking New Albany, Ohio, in December.

  • Ohio has agreed to invest $1 billion in infrastructure improvements to facilitate the factory.

  • Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) has earmarked over billion for capital expenditures in 2022. Intel looks to spend up to $28 billion.

  • Price Action: INTC shares traded higher by 0.60% at $52.35 in the premarket session on the last check Friday.

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