According to Construction Europe, US chip manufacturer Broadcom is planning to build a manufacturing factory in Spain, with a project value of up to $1 billion.
Broadcom CEO Charlie Kawwas announced last week that the company will be investing in a European Union-funded program to develop the semiconductor industry in Spain.
The Spanish Ministry of Economy stated in an email declaration that the project involving Broadcom could be worth $1 billion. Broadcom did not disclose the exact investment amount.
The Ministry of Economy mentioned that the project will include the construction of a "unique large-scale semiconductor backend facility in Europe," but the location has not been chosen yet.
The Spanish government has pledged to allocate up to €12 billion ($13 billion) to subsidize the development of the semiconductor industry. Prior to Broadcom, the Spanish government had announced that US tech giant Cisco planned to establish a new chip design center in the northeastern city of Barcelona.
