Intel, the world's largest chip maker by revenue, will invest up to $4.6 billion to build a new semiconductor assembly and test unit in Poland to expand its operations globally.
The new unit to be located near the city of Wroclaw, “will help meet critical demand for assembly and test capacity that Intel anticipates by 2027,” Intel said on its website.
The factory will also help create 2,000 jobs as well as thousands of other indirect supplier and temporary construction jobs.
“Poland is already home to Intel operations and is well positioned to work with Intel sites in Germany and Ireland,” said Intel chief executive Pat Gelsinger.
“It is also very cost-competitive with other manufacturing locations globally and offers a great talent base that we are excited to help to grow.”
Polish Prime Minister Mateusz Morawiecki said: "Chips and semiconductors are critical technologies in the 21st century and we are excited to expand Poland's role in the global semiconductor supply chain."
Semiconductors have a wide range of applications in various industries including in electronic devices, computers chips, medical devices as well as for manufacturing solar cells and cars.
The supply of semiconductors worldwide was affected by the coronavirus pandemic and countries are working to improve their supply and minimise disruptions.
Last month, the UK government unveiled a £1 billion ($1.24 billion), 20-year investment strategy into semiconductors, aimed at diversifying the supply chain in an attempt to enhance security.
In March, Canada announced a C$36 million ($26 million) contribution to help boost its supply of semiconductor products and services.
"Recent global disruptions show the critical need to build a more resilient supply chain for semiconductors," Intel said.
"Intel supports the European Union’s goal to reclaim 20 per cent of global semiconductor manufacturing capacity by 2030 and is investing in a global semiconductor supply chain that is resilient and geographically balanced."
The global semiconductor market was valued at $429.5 billion in 2021 and is set to surpass $712.4 billion by 2028, with an annual growth rate of 8.8 per cent during the forecast period, according to Vantage Market Research.
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How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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6.
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Canada
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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