State billions for Intel factory

State billions for Intel factory

Intel boss Pat Gelsinger, Germany’s chancellor Olaf Scholz (r.)
Image: APA/AFP/ODD ANDERSEN

According to this, the US group is investing more than 30 billion euros, including state aid. However, the EU Commission still has to give the green light for this.

Intel wants to produce chips in Magdeburg from 2027. In a first stage of expansion, two semiconductor factories with around 3000 jobs are to be built in the long term. A high-tech park for the settlement of suppliers is also planned.

Rising construction and energy costs

Originally, Intel had given its investment sum as 17 billion euros. However, due to rising construction and energy costs, it is becoming more expensive. In addition, the company wants to rely on even more modern technologies in chip production. Federal funding will increase from the initially planned 6.8 to 9.9 billion euros.

Source: Nachrichten

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