InvestPenang seeks clarity on Intel's plan as new Penang facility nears completion amid reported global job cuts
GEORGE TOWN, June 23 — InvestPenang will be meeting with chip giant Intel soon to gain clarity on the company's plans for its new facility in the state.
Penang Chief Minister Chow Kon Yeow said the meeting, expected to take place this week or next, will focus on Intel's progress and intentions for the nearly completed site.
'The meeting, either this week or next week, is to know about their plans with regard to the facility that they are constructing,' he told a press conference at his office today.
He said the investment for the facility was announced in 2021 and that the building is now nearing completion.
'These internal features are also in progress,' he said.
Chow said he last visited the site a few months ago, and with construction now further along, it was timely for InvestPenang to seek an update.
'I think we let InvestPenang to meet with them to get the updates on the latest position on the facility,' he said.
Yesterday, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said his ministry had held discussions with Intel regarding its reinvestment and expansion plans in Malaysia.
According to the minister, Intel has invested RM50 billion in Malaysia to date and employs 12,300 local workers.
In April, Bloomberg reported that Intel planned to cut more than 20 per cent of its global workforce to streamline operations.
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