EXCLUSIVE Italy woos Intel over multibillion-euro chip plant

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MILAN/ROME,  (Reuters) – Rome is drawing up an offer to try to convince Intel (INTC.O) to invest billions of euros in an advanced chipmaking plant in Italy, as Germany emerges as frontrunner to land an even bigger megafactory planned by the U.S. company, three sources said.

The plants would be part of a drive by the U.S. group to build cutting-edge manufacturing capacity in Europe to help avoid future supply shortages of the kind currently crippling the automotive industry in particular.

Computer chip maker Intel’s logo is shown on a gaming computer display during the opening day of E3, the annual video games expo revealing the latest in gaming software and hardware in Los Angeles, California, U.S., June 11, 2019. REUTERS/Mike Blake

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