Intel invests additional $475M in Vietnam facility - New Delhi News

Updated Jan 27, 2021 13:30 PM

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New Delhi, Jan 27 (IANS) Chip-maker Intel has invested an additional $475 million in in its Vietnamese assembly and test facility, taking the total investment in the local site to $1.5 billion.

The additional investment is to build a state-of-the-art chip assembly and test manufacturing facility in Saigon Hi-Tech Park (SHTP), first announced in 2006.

As of the end of 2020, Intel Products Vietnam has shipped more than 2 billion units to customers worldwide.

"We're very proud of this milestone, which shows both how important IPV is to helping Intel meet the needs of its customers all around the world, and why we continue to invest in our facilities and team here in Vietnam," said Kim Huat Ooi, vice president of Manufacturing and Operations and general manager of Intel Products Vietnam Co. Ltd.

The $475 million add-on investment was made over 18 months, between June 2019 and December 2020, according to Intel.

The facility currently manufactures latest products including in the areas of Internet of Things (IoT), mobile and desktop.

Intel previously operated an assembly and test facility in the Philippines.

The company's incoming CEO Pat Gelsinger said last week that the majority of its products would be manufactured internally by 2023.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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