July 13, 2023 /SemiMedia/ -- According to reports, Broadcom is planning to build a manufacturing plant worth up to $1 billion in Spain.
Broadcom CEO Charlie Kawwas said last week that the company would invest in an EU-funded program to develop semiconductors in Spain.
The Spanish Economy Ministry said in a statement that Broadcom's involvement in the project could be worth $1 billion. The project will include the construction of a large-scale back-end semiconductor facility unique in Europe.
In addition, the Spanish government stated that it will allocate up to 12 billion euros to subsidize the development of the semiconductor industry.
The EU is trying to strengthen its own chip industry and reduce its reliance on U.S. and Asian supplies after suffering a global semiconductor shortage and supply chain bottlenecks.