Germany refuses to give Intel more cash for 17bn chip plant
Germanys finance minister says there is no money in the budget for higher subsidies for Intels planned semiconductor plant in eastern Germany, Financial Times reports. Intels plan to construct a massive 17bn chip fabrication plant in Magdeburg, Germany, is a cornerstone of the EUs plan to produce 20% of the worlds semiconductors by 2030. However, the project has faced a number of cost overruns, leaving Intel and Germany at a stalemate over who will foot the bill for the plant, now expected to cost in the region of 20bn. Intel said in March that it wants 4-5bn more in state…
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