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. Last Updated: 07/27/2016

Intel plans $2Bln Plant

PALO ALTO, California -- Intel Corp., the world's largest semiconductor maker, said it will spend $2 billion to build its first chip plant to use larger, dinner-plate-sized silicon wafers.

There are currently 8,150 Intel employees in Chandler, Arizona, where the new plant will be built.

Construction of the new plant will create an estimated 1,000 new jobs during the next five to eight years.

Intel said using the larger silicon wafer - the raw material from which computer chips are made - allows for the production of more than three times as many individual chips and cuts costs by more than 30 percent.