The state will cover about 40% of the construction budget.
The state will cover about 40% of the construction budget.
The German authorities intend to partially finance the construction of an Intel Corporation plant in the country, reports Freie Presse. The plant should be engaged in the production of modern Intel chips.
Construction is planned to be carried out in the area of Magdeburg. Intel Corporation estimates the construction budget of the factory at $19 billion, the German authorities will invest about $7.3 billion in the project, about 40% of its budget.
The factory in Magdeburg will be built in the first half of 2023. The first chips are expected to be produced at the new plant in 2027, and the opening of the factory will create tens of thousands of jobs.
In total, recalls The Register, Intel intends to invest about $36 billion in the construction of factories and laboratories in Europe. It is expected that this will reduce Europe’s dependence on the supply of chips from Taiwan.
In parallel, Intel is actively investing in the construction of factories in the United States. In particular, a huge factory in Ohio should open by 2025; $20 billion will be invested in its construction.
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