The American chip group Intel will invest more than 7 billion dollars in the expansion of its chip production in Malaysia.
That’s what Intel CEO Pat Gelsinger said during a visit to the country. Intel wants to help reduce the worldwide shortage of computer chips with the increased capacity.
This involves expanding Intel’s semiconductor packaging and testing facilities in the Asian country. Production should begin in 2024, Gelsinger said. However, he thinks the chip shortages could last into 2023.
Due to these shortages, major car companies and technology concerns have had to scale back production. Gelsinger went on to say that Intel will also provide more details next year about expanding production capacity in Europe and the United States.
The Malaysian government said Intel’s investment would create more than 4,000 new jobs and more than 5,000 jobs in the construction industry. Intel has been present in the country since 1972.
Currently, more than half a million people are employed in the electronics sector in Malaysia, which plays an increasingly important role in the global chip supply chain.
