Intel to build US$2.5 billion factory in China

A city government in China's northeast announced that Intel Corp. will build a US$2.5 billion (€1.8 billion) chip factory there, a state news agency reported Monday. The announcement by the government of Dalian, reported by the Xinhua News Agency, came ahead of an Intel news conference later Monday at which the company was expected to announce the plan. Intel previously received permission to build the factory to produce chips used in personal computers and mobile phones, according to an earlier statement by China's top economic planning agency.