Semiconductor company Silicon Box, headquartered in Singapore, is set to invest 3.2 billion euros ($3.50 billion) in a new plant in northern Italy, as per a government-backed deal announced by the Italian industry ministry on Monday. The exact location for the plant has not yet been determined, with several options available. Rome will also seek approval from the European Commission for the planned financial aid, which the ministry anticipates receiving soon.
This initiative is part of Italy's longstanding efforts to attract investment from technology companies, including previous attempts to strike a deal with U.S. firm Intel. At full capacity, the investment is expected to create 1,600 new direct jobs, in addition to indirect employment opportunities during the construction phase and within the broader supply and logistics ecosystem once the plant is fully operational.
Industry Minister Adolfo Urso revealed that the project entails estimated operational costs of around 4 billion euros spread over 15 years. The startup, founded by the creators of U.S. chipmaker Marvell, plans to manufacture "chiplets" in Italy, which are minuscule semiconductor components. These chiplets will be brought together using advanced packaging techniques, providing a cost-effective method for combining small semiconductors to create processors capable of powering a wide range of applications, from data centers to household appliances.
