With an investment of billions of euros, it is reported that Intel's Italian chip factory will land in Venito.

CTOnews.com, September 25 (Reuters)-the Italian government and Intel have chosen the town of Vigacio in the northeast of Venito as the preferred location to invest billions of euros in a new chip plant in Italy, according to Reuters.

Intel's investment in Italy is part of the company's plans announced in March last year. Intel plans to invest up to 80 billion euros (554.4 billion yuan) over the next decade to increase production capacity across Europe.

CTOnews.com learned that Intel said the Italian plant would be operational between 2025 and 2027, with an initial investment of about 4.5 billion euros (about 31.185 billion yuan), which is expected to increase gradually. The plant is expected to create 1500 jobs, plus 3500 jobs for suppliers and partners.

This Italian factory will be an advanced semiconductor packaging and assembly plant. The details of a comprehensive agreement were reached by the parties in early September, sources said. An Intel spokesman declined to comment because the negotiations were ongoing and confidential.