Silicon Box to build $3.3bn plant in northern Italy
Singapore's Silicon Box has received significant backing from the Italian government to construct a major new facility in the country, say reports.
Unnamed sources have told Reuters that the two sides are finalising the terms of a state-backed deal worth around EUR 3 billion (USD 3.3 billion). A statement from the country’s industry ministry said the investment is part of Italy’s efforts to attract investment from technology firms. This new project is expected to create 1,600 direct jobs.
Italy is playing catch-up to a degree with other Euroopean countries when it comes to innards tech investment. The country was part of Intel's board plans for European expansion but discussions relating to this project appear to have stalled. The Italian PM said last month that Italy was ready to offer EUR 4.75 billion in state help to attract foreign chipmakers.
Silicon Box is a chipset specialist which appears to be growing fast. The firms's package design and fabrication method provides an alternative to relying on a single monolithic chip. Instead it leverages multiple smaller chips interconnected in a single system-on-chip package.
It recently received funding from TDK Ventures.
