Intel to invest $1.2 billion in Costa Rica over next two years

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration

SAN JOSE (Reuters) - Intel will invest $1.2 billion in Costa Rica over the next two years, the company said in a press release on Wednesday.

The announcement comes after the U.S. State Department said in July that it would partner with Costa Rica's government to support the Costa Rican semiconductor sector through the 2022 Chips and Science Act.

(Reporting by Alvaro Murillo; Writing by Brendan O'Boyle; Editing by Isabel Woodford)