Malaysia says US chipmaker Intel to invest US$7b in new facility

[KUALA LUMPUR] American chip manufacturer Intel Corporation will invest US$7.10 billion in a new, state-of-the-art facility, Malaysian authorities said on Monday.

The Malaysian Investment Development Authority, in a media invitation, said Intel Corporation had chosen Malaysia to expand manufacturing capabilities for its advanced semiconductor packaging technologies in the northern state of Penang.

The chipmaker is scheduled to hold a press conference on Wednesday at the Kuala Lumpur International Airport on the investment.

Intel CEO Patrick Paul Gelsinger, Malaysia's Trade Minister Azmin Ali and Malaysian Investment Development Authority CEO Arham Abdul Rahman will be present.

The addition of advanced packaging capabilities to Intel's operations in Malaysia will strengthen its supporting activities and its global service centre.

The investment will position Malaysia as one of the key hubs for manufacturing and shared services.

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REUTERS, BLOOMBERG