Charlie Kawwas, President of the Semiconductor Solutions Business Unit at AVGO. US, stated that AVGO will invest in a plan supported by the European Union to increase Spain's semiconductor production capacity.
Kawwas stated in a tweet on Thursday: "We are pleased to announce our decision to invest in Spain's semiconductor ecosystem in accordance with the principles of Spain's semiconductor support plan and the EU chip bill
Kawwas also thanked Prime Minister of Spain Sanchez for his support and determination in building an elastic global semiconductor value chain.
The Ministry of Economy of Economy of Spain said that Broadcom would participate in the project, which could be worth up to US $1 billion. However, Botong did not provide details on the investment amount.
The Ministry of Economic Affairs added that the plan will include the construction of "a large backend semiconductor facility unique to Europe". The location has not been determined yet.
It is understood that the Spanish government plans to allocate up to 12 billion euros (about 13 billion dollars) from the EU's epidemic relief fund to subsidize the development of the Semiconductor industry.
Prior to Botone, the Spanish government had revealed that Cisco planned to open a new chip design center in Barcelona.
After experiencing recent supply chain issues, countries are currently intensifying preparations to increase the supply of semiconductors. Earlier this week, Thierry Breton, the EU's internal market specialist, emphasized further semiconductor cooperation with Japan.
In June this year, Science and technology in the United States company Intel announced plans to build chip factories in Germany and Poland, which is part of the company's plan to invest $88 billion in Europe in the next few years to increase semiconductor production capacity.