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Intel’s German fab subsidy to be upped to €9.9bn

Intel’s German fab subsidy to be upped to €9.9bn

Posted Date: 2023-06-16

Intel agreed to construct two fabs at  Magdeburg costing €17 billion with subsidies from the German authorities of €6.8 billion however, earlier this yr, Intel mentioned that the price of supplies and vitality had gone up and it wanted a $10 billion subsidy to proceed.Intel’s German fab subsidy to be upped to €9.9bn

Earlier this week the German finance minister, Christian Lindner, mentioned that no extra money was accessible.

Nevertheless the economics minister is now mentioned to have  undertaken to supply the extra funds from the economics ministry price range and the subsidy will likely be upped to €9.9 billion.

Handelsblatt says that Intel CEO Pat Gelsinger will signal a brand new settlement to construct the fabs in Berlin on Monday.