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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (131692)	4/5/2001 4:08:04 AM
From: Paul Engel	Read Replies (3) \| Respond to of 186894

Herr Uberclockermeister and AMD-Saxony are getting a new neighbour - in der Deutschland - INTEL !!! Thursday April 5, 2:50 am Eastern Time Intel says Dubai takes 30 pct stake in chip venture DUBAI, April 5 (Reuters) - Dubai has agreed to take a 30 percent stake in a partnership deal with U.S. firm Intel Corp (NasdaqNM:INTC - news) to build a microchip factory in Germany, a UAE newspaper on Thursday quoted an Intel official as saying. ``The capital of the company...will be $1.2 billion. Dubai government's stake will be around 30 percent against 25 percent for Intel and the rest for German companies participating in the project,'' Robert Ecklemann, Intel general manager for Europe, Middle East and Africa, told al-Khaleej daily. Dubai, eager to establish itself as a trade and technology hub in the oil-rich Gulf region, has said it would take part in the project if Intel agreed to build a plant in the emirate. Ecklemann said ``technical difficulties'' prevented meeting that condition. But he said Intel would set up an unspecified project at the recently launched Dubai Internet City (DIC). ``We will not establish a branch for the factory in Dubai, but Intel is now negotiating with the Dubai government to launch an ambitious, promising and qualitative project at DIC. It will be finalised within days,'' al-Khaleej quoted him as saying. Officials in Dubai, one of seven emirates that make up the United Arab Emirates, were not immediately available to comment. Intel Corp said in February it planned to take a 25 percent stake in the project to build high-speed semiconductors for a range of mobile services. The new foundry, scheduled to begin production in 2003, will be built in the town of Frankfurt-an-der-Oder on Germany's border with Poland.