SANTA CLARA, CA-Intel Corp. will build a 300-millimeter wafer fabrication factory in Dalian, China, the company’s first wafer facility in Asia.

SANTA CLARA, CA-Intel Corp. will build a 300-millimeter wafer fabrication factory in Dalian, China, the company’s first wafer facility in Asia. The $2.5 billion plant will ramp up in 2010 and be dedicated to the production of chipsets to support Intel's core microprocessor business.

"China is our fastest-growing major market, and we believe it's critical that we invest in markets that will provide for future growth to better serve our customers," says company president, Paul Otellini.

According to Otellini, Intel has been involved in China for more than 22 years during which time it has invested approximately $1.3 billion in assembly test facilities, and research and development. “This new investment will bring our total to just under $4 billion, making Intel one of the largest foreign investors in China," he says.