(Bloomberg) -- The Italian government is planning to invest around €10 billion in the semiconductor industry throughout the year, news agency Ansa reported, citing Industry Minister Adolfo Urso. 

“Italy is preparing to become one of the largest microelectronics producers in Europe,” Urso told reporters in Pescara, where the ruling party Fratelli d’Italia is meeting this weekend. 

In March, Urso announced an investment of €3.2 billion ($3.4 billion) by the Singaporean startup Silicon Box, to build a chip factory in the north of the country. The announcement came after the government failed to persuade US-based chip-maker giant Intel Corp. to invest. 

“I believe that in the coming weeks we will be in a position to make other equally significant announcements,” he also said, according to local media.

--With assistance from Chiara Albanese and Flavia Rotondi.

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