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The new government of prime minister Giorgia Meloni hopes to seal the deal with the US tech giant.

Italy’s government is determined to secure an investment by Intel to build a chip factory in the country, according to a report in Reuters. The Italian Minister for Economic Development, Giancarlo Giorgetti, said that the new Meloni government brings with it a chance to revive the moribund deal.

“Unfortunately, or fortunately – it depends on the point of view – there has been a change of government, but the matter is being taken up again”, Giorgetti said on the sidelines of a parliamentary hearing on security. “General cost situations around the world have also changed, but we are certainly busy.”

€4 billion and 1500 jobs

With an initial investment of almost €5 billion that’s expected to increase over time, Intel has said the Italian plant would create 1,500 jobs plus another 3,500 among suppliers and partners, with operations to start between 2025 and 2027.

The Meloni government sees the deal as critical to its prestige. Rome is attempting to attract Intel by proposing concessions on energy and labour costs.

It started under Mario Draghi

The discussions between Italy and the US tech giant started under the previous administration of Mario Draghi. The former prime minister and Intel have chosen the town of Vigasio in northeastern Veneto as the ideal site for the proposed chip factory in Italy.

At the end-of-year press conference in December, new prime minister Meloni confirmed that she views Intel’s investment as a top priority. “In the next few days I will try to arrange a meeting to ask Intel what we can do to facilitate their investment in Italy, which I consider highly strategic”, Meloni promised.

The goal would be to close the deal by the end of the year, according to reports.