The facility will be used for Intel's 65-nanometer manufacturing technology. Production for the expanded part of the plant, known as Fab 24-2, is slated for 2006.
Spending this year on the expansion will be accommodated by Intel's planned capital expenditure budget of between 3.6 billion and four billion dollars.
The company said it was receiving subsidies and other aid from the Irish government, but offered no details.
Since 1989 Intel has invested approximately six billion dollars in its Ireland operations and has some 4,700 employees in the country.
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