MADRID, July 7 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will invest in a European Union-funded programme to develop a semiconductor industry in Spain, Chief Executive Charlie Kawwas said late on Thursday.
"Excited to announce our decision to invest in Spain's semiconductor ecosystem under their semiconductor support program," Kawwas said on his Twitter account.
The project in which Broadcom would be involved could be worth $1 billion, the Spanish economy ministry said in an emailed statement.
Broadcom did not say how much it would invest.
Prior to Broadcom, the Spanish government had said U.S. tech giant Cisco Systems Inc. (CSCO.O) was planning to open a new chip design centre in the northeastern Spanish city of Barcelona.
Persons:
Charlie Kawwas, Kawwas, Inti Landauro, Belen, Mark Potter
Organizations:
chipmaker Broadcom, Broadcom, Cisco Systems Inc, EU, Thomson
Locations:
MADRID, Union, Spain, Spanish, Europe, Barcelona