Silicon Box to pick Piedmont for $3.4 billion Italian chip plant, sources say

FILE PHOTO: A Silicon Box signage is pictured during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar Su/File Photo

MILAN/ROME (Reuters) - Singapore-based semiconductor firm Silicon Box plans to pick the town of Novara in the industrialised northwest Piedmont region as the location for its new multibillion-euro chip factory in Italy, two people close to the matter told Reuters on Thursday.

The three-year-old startup, created by the founders of U.S chipmaker Marvell, will invest 3.2 billion euros ($3.4 billion) to produce in Italy so-called "chiplets", which can be the size of a grain of sand, under a government-backed deal.