Intel receives 6.8 billion euros in support for German chip maker – IT Pro – News

Intel will receive 6.8 billion euros to build its chip factories in Magdeburg, Germany. A member of Parliament confirms this to German media. This amount is equivalent to 40 percent of the initial costs that Intel claims to incur through “megafab”.

Until 2024, Intel will receive a total of 6.8 billion euros for the megachip plant, as recently confirmed by Magdeburg Member of Parliament Martin Kröber of SPD. German media RND And the Golem technology site† For this year, the German government will allocate 2.72 billion euros to the semiconductor sector, according to Federal budget for this year† According to German media, a large part of that will go to Intel.

Building the Intel chip factory in Magdeburg Starts in the first half of 2023† Initially, the company wants to establish two production facilities on the site, for which the company allocates 17 billion euros. But eventually, the campus has to grow into a “small town” with eight factories. Production is scheduled to begin in 2027. Intel will then produce on the most advanced node currently offered by the company, The company has previously confirmed to Tweakers† It is not yet known what the process will be. In the factory the company produces potato chips for itself and for external companies. Intel claims the plant will create 3,000 permanent jobs.

Support will be possible soon by European chip lawProposed by the European Commission earlier this year. This chip law should be good for €43 billion investments in the chip sector and ease tough European government aid rules. European Union It has long said that it wants to strengthen its position in the semiconductor sectorThis is partly due to geopolitical tensions. The region currently produces 9 percent of all chips, but by 2030 this market share should more than double to 20 percent. The European chip law has yet to be approved by the European Parliament and individual member states.