Intel officially broke ground on its $20 billion chip manufacturing plant in Ohio

Source: aijiwei

    On September 10, according to the Nikkei news, Intel officially broke ground on its $20 billion chip production base in Ohio on Friday. A month ago, the United States issued incentives to help its semiconductor industry better compete with Asian rivals such as TSMC and Samsung Electronics.

    According to the report, Intel‘s two new chip manufacturing plants will cover nearly 1000 acres in Licking County. The company said that the total investment in the plant in the next 10 years could be as high as $100 billion, making it one of the largest semiconductor manufacturing plants in the world.

    US President Joe Biden attended the groundbreaking ceremony of Intel‘s new semiconductor manufacturing plant in Ohio.

    China, Japan, South Korea, the European Union and other countries are all investing tens of billions of dollars to attract chip manufacturers to their countries, but industry leaders have chosen us, "US President Joe Biden said at the foundation ceremony after leaving Washington for Ohio on Friday.

    The report pointed out that Biden signed the chip and science act of 280 billion US dollars last month, including 52 billion US dollars of support for the semiconductor industry. However, there are conditions attached to this fund: any company receiving subsidies must not conduct "major transactions" within 10 years to significantly expand its chip manufacturing capacity in China or any other countries of concern.

    Intel has always been a major advocate of the chip bill, and blamed the delay of the bill for its decision to indefinitely delay the ground breaking of the Ohio plant. Earlier, construction of its Ohio plant was scheduled to start in late July.

    Pat Gelsinger, CEO of Intel, said, "this groundbreaking proves the common strength of public and private enterprises, because it (the chip act) is so important to the country“

    In addition to the $20 billion investment in Ohio, Intel also plans to expand by $20 billion in Arizona. Because it is trying to win customers from TSMC, the world‘s largest foundry, and Samsung, the second largest.

    However, Intel‘s chip manufacturing business is progressing slowly. The company reported a 54% year-on-year decline in revenue from its contract manufacturing business unit in the second quarter ending June.

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