The start of construction for two new plants of the chip company Intel near Magdeburg, which is planned for the first half of the year, is apparently in danger. In view of the difficult market situation and higher costs, the US company is moving away from the schedule for the groundbreaking, the reported Magdeburg People’s Voice. Intel wants more subsidies and points to major geopolitical challenges, reduced demand for semiconductors, high inflation and the global economic downturn. “This means that we cannot yet give a definitive date for the start of construction,” said a spokesman. In view of the rapidly increasing construction and energy prices, a gap has arisen in financing, the newspaper writes. According to the report, while Intel had expected investments of 17 billion euros, the costs should now be over 20 billion. Intel said they were in talks. “In the current situation, the gap has grown. We are currently working with partners in government to advance the project with this in mind,” it said.
Semiconductors – start of construction at Intel shaky – economy
