Intel Corp. Plans $7.12 Billion Expansion in Malaysia

By Clarence Leong

Chip maker Intel Corp. plans to invest 30 billion ringgit ($7.12 billion) to expand its production capacity in Malaysia, according to the country's authorities.

The move will boost the company's advanced semiconductor packaging capabilities, while affirming its commitment to Malaysia, the Malaysian Investment Development Authority said Monday in a media invitation.

A press conference about the investment will be held Wednesday that will include Intel CEO Patrick Gelsinger, it said.

The Wall Street Journal reported in August that according to people familiar with the matter, Intel had pitched factory projects in various Asian countries, including Malaysia.

Write to Clarence Leong at [e-mail]

(END) Dow Jones Newswires

12-13-21 0613ET