Intel plans new €1.6bn Irish investment
Intel is to invest a further €1.6bn in its Irish operation at Leixlip, Co Kildare, creating 400 jobs, it has been confirmed this afternoon.
The move secures the long-term employment of existing employees and brings the total number of employees and contractors to more than 5000.
Intel intends to build and equip a new wafer fabrication clean room space and will produce the next generation of 300mm wafers using 65 nanometre technology.
The new microchips will be smaller, faster, and more economical than those currently produced.
Construction of the facility will begin immediately, with production beginning in the first half of 2006.
After two years of downturn the semiconductor market accelerated in the last quarter of 2003 and worldwide semiconductor sales are expected to grow by over 20% in 2004.
It also ensures the very substantial economic impact of Intel on the Irish economy will continue to be felt well into the future and it leads the way for the next generation of high tech, innovation-driven manufacturing in Ireland.
The investment will be supported by IDA Ireland, whose grant to Intel is subject to European Union approval.
Tánaiste Mary Harney said today: "Ireland faced stiff competition from several locations for this investment and the decision by Intel to commence this new phase of investment in its Irish operations confirms Ireland’s position as a world class technology location and one of Europe’s top locations for semiconductor innovation and manufacturing."
