Brookfield Infrastructure grants Intel the dream of its factory in Arizona
The Canadian company said it will help Intel finance the project with retained operating cash flow. In addition to the income from its capital recycling program. Most of the money is expected to be paid out as the installation nears completion. Preparing to start operations, Brookfield Infrastructure said.
Funding for Brookfield Infrastructure will be through a new program that Intel has created, called Semiconductor Co-Investment Program (SCIP). This program will serve as a vehicle to help Intel finance “capital-intensive” expansion of its semiconductor operations. Commenting on the news, Sam Pollock, CEO of Brookfield Infrastructure, said:
“Combine Brookfield’s access to large-scale capital with Intel’s industry leadership. Is to push forward the major semiconductor production capabilities. Leveraging our partnership experience in other industries, we are pleased to join Intel in this important investment that will form part of the long-term digital backbone of the global economy.”
Intel is putting a lot of effort into helping diversify global semiconductor manufacturing. Earlier this month, it was reported that Intel was close to a deal to build a chip factory in Italy. The coronavirus shutdowns have made it clear that the world relies too heavily on China to build these critical components, so now companies like Intel want to distribute their facilities.
