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.