Intel to invest $7 billion in new plant in Malaysia
By MYBRANDBOOK
Following a global shortage of semiconductors, Intel Corporations will invest more than $7 billion to build a new chip-packaging and testing factory in Malaysia, expanding production in the country.
It is said that the new advanced packaging facility in Malaysia is expected to begin production in 2024, creating over 4,000 Intel jobs and more than 5,000 construction jobs in the country.
"Overall, the semiconductor industry this year will grow more than it has in the last two to three decades. But still the gaps are large...and I predict that the limitations of the shortages will persist into 2023," CEO Pat Gelsinger said.
Malaysia's chip assembly industry, accounting for more than a tenth of a global trade worth over $20 billion, has warned that shortages will last at least two years.
"This undertaking is indeed timely given the bullish global demand driven by the chip shortages and the potential challenges arising from the recovery of the pandemic globally," Malaysian Minister of International Trade and Industry Mohamed Azmin Ali said.
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