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Brookfield Infrastructure signs deal with Intel to help fund semiconductor factory

TORONTO — Brookfield Infrastructure Partners LP has signed a deal with Intel Corp. to help build a semiconductor fabrication facility in Chandler, Ariz.
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Brookfield Infrastructure Partners LP has signed a deal with Intel Corp. to help build a semiconductor fabrication facility in Chandler, Ariz.This May 3, 2021, image shows one of the signs at Intel's manufacturing campus in Rio Rancho, New Mexico. THE CANADIAN PRESS/AP-Susan Montoya Bryan

TORONTO — Brookfield Infrastructure Partners LP has signed a deal with Intel Corp. to help build a semiconductor fabrication facility in Chandler, Ariz.

Under the agreement, Brookfield Infrastructure will invest up to US$15 billion for a 49 per cent stake in Intel’s manufacturing expansion at its Ocotillo campus.

Intel will hold the remaining 51 per cent.

The deal follows a memorandum of understanding between Brookfield and Intel signed earlier this year to explore project finance options.

The transaction is expected to close by the end of the year, subject to customary closing conditions.

Brookfield Infrastructure is part of the Brookfield Asset Management family of companies.

This report by The Canadian Press was first published Aug. 23, 2022.

Companies in this story: (TSX:BIP.UN, TSX:BAM.A)

The Canadian Press