Intel has increased the budget of the project to build

Intel has increased the budget of the project to build a plant in Germany, but expects further subsidies

A year ago, Intel Corporation decided to expand its presence in Europe and a company in Germany was added to the list of production localization projects; last fall, the company even bought a plot of land in Magdeburg for its construction. As is now known, Intel is demanding a further 5 billion euros in government funding for the project.

    Image source: Intel

Image source: Intel

According to information Bloomberg NewsIntel initially secured €6.8 billion in government subsidies to build a plant in Germany last year, but the difficult economic environment is forcing the processor giant to seek another €5 billion in public funding. Intel originally expected around 17 billion euros to set up a company in Germany, but the budget has now grown to 30 billion euros and the company wants to cover up to 40 percent of the costs with subsidies. Even with an additional 5 billion from the EU budget, it will not reach the desired level. The company is willing to consider tax breaks and in-kind contributions of energy resources as measures to support its initiative from local authorities.

At the same time, Intel remains committed to funding existing projects in Ireland and France. In the first of the countries, the company produces chips and is preparing to modernize and expand production, in the second it is necessary to build a research center. According to Intel’s initial plans, Italy will have a chip testing and packaging facility.

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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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