Intel seeks partner to back $2bn Irish expansion

Mercury Engineering was involved in a €17bn new advanced chip manufacturing facility recently opened by Intel at its Leixlip facility in Co Kildare. Photo: Colin Keegan/Collins

Gillian Tan and Ian King

Intel Corp. is seeking to raise at least $2bn in equity to help fund a semiconductor fabrication facility in Ireland, according to people with knowledge of the matter.

The chipmaking giant, which is working with an adviser, has begun soliciting interest from potential investors, said the people, who requested anonymity discussing confidential information.

An Intel representative declined to comment.

A transaction would follow the chipmaker's 2022 deal with Brookfield Infrastructure Partners, in which the firm agreed to invest as much as $15bn for a 49pc stake in Intel's manufacturing expansion at its Ocotillo campus in Chandler, Arizona.

(Bloomberg)