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Intel (NASDAQ:INTC) is delaying the construction timetable for its $20 billion chip manufacturing facility in Ohio.
Intel (INTC) had planned to start construction on the Ohio project next year, though the manufacturing plants are now expected to be completed by late 2026, according to a WSJ report on Thursday, which cited people involved in the project.
“Managing large-scale projects especially in our industry often involves adapting to changing timelines,” an Intel spokesman 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 for a massive new manufacturing facility near Columbus, Ohio.
The Intel (INTC) report comes after the WSJ reported on Saturday that the Biden administration is expected to award billions of dollars in subsidies to Intel (INTC), Taiwan Semiconductor (TSM), and other semiconductor firms in the coming weeks for new factories.