The American company Intel has found $ 30 billion for the construction of a new factory for the production of chips in the state of Arizona. This was stated at the Credit Suisse conference by the company’s chief financial officer, David Zinsner. The transcript of the conversation was published on the Seeking Alpha investment portal.
“If you look at the situation in Arizona, you have to invest $30 billion in rounds there. And yes, the investment tax credit is helpful, but we now have a strong cash flow from operating activities as well.”he took note.
According to Zinsner, Intel signed an agreement with Canadian company Brookfield Asset Management to jointly finance the construction. “It’s about 50-50 there. We have a little more of them, but pretty close to an equal investment.”– explained the financial director.
He noted that a similar plan will be used in the future. Zinsner also acknowledged that starting a business in the US is much more expensive than in Asian countries.
Source: Port Altele
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