(Bloomberg) -- Intel Corp. shares slipped in extended trading after the Wall Street Journal reported that the company was delaying a closely watched $20 billion chip facility planned for Ohio.

Intel had previously hoped to begin production at the plant in 2025, though now the site is unlikely to be ready until late 2026, the newspaper reported. A slow rollout of money from the Chips and Science Act — legislation passed in 2022 to revitalize the US chipmaker industry — has contributed to the delays.

Intel declined to comment on the project’s exact timeline but said it remains committed to the effort. It’s still moving forward and the company has made significant progress, Intel said. 

The US has been aiming to announce major chip grants by the end of March, Bloomberg reported earlier, paving the way to send billions of dollars to semiconductor makers. Intel has previously said that the grants — and business conditions — will determine how quickly it progresses with expansion projects, including the Ohio facility, which it has said may become the world’s largest. 

The shares fell as much as 3.1% to $42.01 in late trading Thursday. Even before the dip, they were down 14% this year.

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