It is “the largest investment ever made by a foreign company in Germany”: Intel will ultimately invest 30 billion euros in its semiconductor factory in Magdeburg, East Germany. This decision “will make Germany the largest chip production site in Europe. This is good news for Germany and good news for Europe,” said Federal Chancellor Olaf Scholz.
It took weeks of back and forth and a final meeting between the Chancellor and Intel boss Pat Gelsinger on Monday in Berlin to reach an agreement. Faced with rising energy and component prices, Intel upped the ante and won. “Les Echos” has had confirmation that the German state will put 9.9 billion euros in subsidies on the table, ie 3 billion more than initially planned.