-Intel INTC.O CEO Pat Gelsinger said on Thursday that the company will invest more than US$7 billion to build a new chip packaging and testing plant in Malaysia to expand semiconductor production in the country .
He said that the newly-built advanced packaging plant in Malaysia is expected to start production in 2024.
The Malaysian government stated that the 30 billion ringgit (7.1 billion US dollars) investment is expected to create more than 4,000 Intel jobs and more than 5,000 construction jobs in the country.
“In view of the global demand growth driven by the shortage of chips and the potential challenges brought by the global recovery from the epidemic, this project is indeed timely,” Malaysian Minister of International Trade and Industry Mohamed Azmin Ali said in a statement.
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