Intel to invest $2 billion in Ireland

SANTA CLARA, Calif., May 19 (UPI) -- Intel Corp. of California announced plans Wednesday to invest an additional $2 billion in its facilities in Ireland.

Under an agreement with the Irish Development Authority, Intel plans to make the investment to enable 65 nanometer process technology to make semiconductors and build upgraded chip models in Ireland.

Intel will receive grants and other potential incentives as it continues to invest in Ireland. Intel's 2004 capital expenditure forecast range of $3.6 billion to $4 billion will accommodate the spending for the early stages of this project.

The investment will add an additional 60,000 square feet of manufacturing clean-room space plus the necessary manufacturing equipment, and construction is expected to begin the first half of 2006.

Bob Baker, senior vice president, Technology Manufacturing Group, said, "This additional investment in the factory will help ensure that we have leading-edge manufacturing capacity to meet customer needs in 2006. The performance of our workforce in Ireland and our relationship with the government helped make this investment decision possible."