Silicon Box to invest €2.3bn in the project
Silicon Box startup will allocate €3.2bn to build manufacturing facilities in Italy. The Singapore-based company plans to produce chips in the European country.
According to Italy’s minister for the sector, Adolfo Urso, specialists are already working on the plant’s design. It will be in the northern part of the country. It is worth noting that the local government is very interested in investments from Silicon Box. Expanding semiconductor production will create a sustainable supply chain for strategically essential products. This is not just about meeting the needs of Italy but also of Europe as a whole. The new plant will also help the country to strengthen its economy. According to the project, the plant will provide jobs for around 1,600 people when it reaches total capacity.
Italy’s advantages for Silicon Box
Silicon Box is a fast-growing company. It is active in the following sectors:
– semiconductor technology development;
– chip manufacturing;
– chip testing.
In early 2024, the startup conducted a funding round in which it raised USD 200 million. As a result, Silicon Box’s value exceeded USD 1 billion.
The company says the factory in Italy will help meet the growing demand for semiconductor products. In addition, the startup intends to produce its next-generation chips here, which will be available by 2028. Construction of the plant will begin after Silicon Box receives the financial support promised by the Italian authorities.
The investment in this project will allow the startup to enter the European market. It will also help to establish the company as a reliable supplier of advanced technologies. Silicon Box believes that Italy is an excellent option for expanding production. The country has all the necessary characteristics, such as:
– a well-developed infrastructure;
– a large number of semiconductor specialists;
– government support.
In addition, the country has a flexible and favourable environment for technology companies.
It is worth noting that Silicon Box announced its plans after the Italian government failed to attract investment from Intel. The country’s authorities had been negotiating with the US company for a long time, offering various conditions for the plant’s construction. However, one of the world’s largest microchip manufacturers refused to expand its presence in Italy. Instead, Intel decided to build assembly plants in Poland. The company also plans to invest 30 billion euros in a plant in Germany. According to experts, the German government has offered the company more favourable conditions. For example, local authorities intend to provide subsidies for the construction of the plant for 10 billion euros.
