Italy has cleared the financing framework for Silicon Box’s planned semiconductor manufacturing facility in Novara, marking a major step in the country’s strategy to strengthen its position in Europe’s semiconductor industry.
The project, known as the Vulcan Project, involves a total investment of €3.2 billion, equivalent to roughly $3.7 billion, with the Italian government providing €1.3 billion (US$1.45 billion) in public support through the semiconductor sector fund established under the European Chips Act.
