Intel (INTC) is planning to delay the construction of its $20 billion chip-manufacturing project in Ohio over market challenges and a slow rollout of US government support for the industry, the Wall Street Journal reported Thursday, citing people familiar with the matter.
Construction of the project’s manufacturing facilities is not expected to be completed until 2026, pushing back Intel’s original target of beginning production in 2025, the report said.
“Managing large-scale projects, especially in our industry often involves adapting to changing timelines,” an Intel spokesman reportedly told the Journal. The spokesman declined to give a new timeline for the project, the report said.
Intel did not immediately respond to MT Newswires’ request for comment.