Intel to invest $7 bn in new factory, employ 3,000

Washington, Feb 9 (IANS) Intel CEO Brian Krzanich after a meeting with US President Donald Trump, announced that the tech giantt will invest $7 billion in a new factory employing up to 3,000 people, the media reported.

The factory will be in located Chandler, Arizona, the company said.

Krzanich confirmed to CNBC News that the investment over the next three to four years would be to complete a previous plant, Fab 42, that was started and then left vacant.

The 7 nanometer chips will be produced there will be "the most powerful computer chips on the planet", Krzanich said in the Oval Office with the Trump administration.

Most Intel manufacturing happens in the US, Krzanich said.

"America has a unique combination of talent, a vibrant business environment and access to global markets, which has enabled US companies like Intel to foster economic growth and innovation," Krzanich said in a statement.

"Our factories support jobs - high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located."

After the announcement, Trump tweeted his thanks to Krzanich, calling the factory a great investment in jobs and innovation, CNBC News reported.

The announcement comes as the technology industry has pushed back against the Trump administration, amid mounting pressure to move manufacturing jobs back to the US.

However, the White House said that there will be no incentives from the federal government for the Intel project.

Intel was one of more than 100 companies that joined together to file a legal brief opposing Trump's temporary travel ban on people from seven Muslim-majority nations.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)