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Intel (NASDAQ:INTC) is delaying the construction schedule of its $20 billion chip manufacturing plant in Ohio.
Intel (INTC) had planned to begin construction on the Ohio project next year, although manufacturing facilities are expected to be completed by end of 2026, according to WSJ report Thursday, which named people involved in the project.
“Managing large-scale projects, especially in our industry, often involves adapting to changing timelines,” an Intel spokesperson told the WSJ. “Our decisions are based on business conditions, market dynamics and being responsible stewards of capital.”
Intel (INTC) announced in January 2022 a $20 billion investment in a massive new manufacturing facility near Columbus, Ohio.
The Intel (INTC) report comes after the WSJ reported Saturday that the Biden administration is expected to award billions of dollars in subsidies to Intel (INTC), Taiwan Semiconductor (TSM) and other semiconductor companies in the coming weeks for new factories.