Germany refuses to give Intel more cash for €17bn chip plant
Germany’s finance minister says there is no money in the budget for higher subsidies for Intel’s planned semiconductor plant in eastern Germany, Financial Times reports. Intel’s plan to construct a massive €17bn chip fabrication plant in Magdeburg, Germany, is a cornerstone of the EU’s plan to produce 20% of the world’s 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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