US chip giant Intel Corp will open its US$1 billion chip assembly and test facility at the Saigon High-Tech Park next Friday.
It will take three to five years for the plant to reach full capacity when it will earn annual revenues of $5 billion-15 billion, according to Dien Dan Doanh Nghiep (Business Forum) newspaper.
It will be inaugurated together with a $2.5 billion plant in Dalian, China.
Their opening is meant to help the world’s largest computer chip manufacturer capture growth opportunities in emerging Asian countries, the Wall Street Journal newspaper quoted Navin Shenoy, Intel’s general director for Asia – Pacific, as saying.
The HCMC facility will handle the last stage in the production cycle, namely product quality checking, packaging, and retailing.
The company said the plant will create around 4,000 jobs, 70 percent of them university students it sent to the US for the last two years of their undergraduate courses.
The plant is Intel’s seventh chip assembly and test facility worldwide, the others being in Malaysia, the Philippines, China, and Costa Rica.
Intel announced last Wednesday that Q3 profits rose 63 percent to $3 billion on revenues of $11.1 billion.
In the period its revenues from the Asia-Pacific region rose 20 percent year on year to a record $6.4 billion.
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