Intel To Invest $7B In Malaysia Chip Plant

Intel Corp INTC will invest 30 billion ringgit ($7 billion) in expanding its manufacturing capabilities in advanced semiconductor packaging technology in Penang, Malaysia, Bloomberg reports.
The addition of advanced packaging capabilities to Intel’s operations in Malaysia will amplify its supporting activities and global service center.
Intel CEO Patrick Paul Gelsinger, Malaysia’s Trade Minister Azmin Ali, and Malaysian Investment Development Authority CEO Arham Abdul Rahman will attend a press conference on investment on December 15 at the Kuala Lumpur International Airport.
The investment will position Malaysia as critical manufacturing and shared services hub.
Price Action: INTC shares traded higher by 0.43% at $50.81 in the premarket session on the last check Monday.