A Singapore-based semiconductor start-up is to plough €3.2bn into setting up a chipmaking plant in Italy, creating hundreds of jobs, as part of the EU country’s drive to attract investment in high-tech industries.
Silicon Box, valued recently at $1bn, plans to produce chips for artificial intelligence, electric vehicles and high-performance computing in a greenfield facility in northern Italy.
The plant is expected to employ 1,600 people once it is fully operational and will generate thousands of indirect jobs in supply and logistics, the Italian government and company officials said on Monday.
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