Chip-maker Intel said it will invest more than $20 billion to build two new factories int US for advanced chipmaking, as the world grapples with semiconductor shortage.
The initial phase of the project in New Albany near
Columbus, Ohio, is expected to create 3,000 Intel jobs and 7,000 construction jobs.
"Intel's actions will help build a more resilient supply chain and ensure reliable accessto advanced semiconductors for years to come," said Pat Gelsinger, CEO of Intel.
"These factories will create a new epicentre for advanced chipmaking in the U.S. that will bolster Intel's domestic lab-to-fab pipeline and strengthen Ohio's leadership in research and high tech," he added.
At full buildout, the total investment in the site could grow to as much as $100 billion over the next decade, making it one of the largest semiconductor manufacturing sites in the world.
The Production is expected to come online in 2025.
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