[Vnbiz] Intel to lift Vietnam investment to $1 bln

[Phan, Tai]

Intel to lift Vietnam investment to $1 bln: sources Wed Nov 8, 12:28 AM ET
 


HANOI (Reuters) - Intel Corp. (Nasdaq:INTC - news), the world's largest chip maker, will raise its investment in the construction of two plants in Vietnam to $1 billion from $300 million, sources familiar with the firm's plan said on Wednesday. 

 
 
"The license for the increased investment to $1 billion will be handed to Intel on Friday," said a source close to the management board of Saigon High-Tech Park, where Intel's Vietnam unit is building its first plant.

When licensed in February for the initial investment of $300 million, Intel's project to package and test microchips which power personal computers and mobile phones already marked the biggest investment in Vietnam by a U.S. company.

A second source said initially California-based Intel had an option to build a second phase for the factory, which would double the initial investment to $605 million.

"But now it wanted to bring the investment up to $1 billion in the second phase," said the source, who declined to be identified because due to a lack of authorization to give details of the increased investment.

Intel Products Vietnam said in an invitation to Reuters that Intel deputy chairman Brian Krzanich would announce the new investment level at a ceremony in Ho Chi Minh City on Friday.