Today we have learned that finally our European neighbor will subsidize Intel and the construction of the chip plant can be carried out as planned.
10,000 million euros
This will be the figure that Germany finally has to put up for the project to be completed. This factory will be located in the city of Magdeburg. At first Intel requested 6,800 million euros, but as the study progressed, the cost was increasing. A week ago, the leading chip manufacturing company commented to the German government that they should be 10,000 the millions What would they have to give them if they wanted the company to be located in their country? Germany said that it would not give in as it was not the agreement they had reached in the first place.
Everything indicates that they have seen the ears of the wolf and believe that the best and most profitable option for them is an investment in the future, such as having a chip factory for a company like Intel in their country. They will pay the 10,000 million that they require for it to be carried out. With an estimated initial value of total construction of 17,000 million euros. The other part will be the responsibility of Intel, since it could finally come at a cost of up to 30,000 million.
The words of the German Chancellor Olaf Scholz were the following:
It is good news that many companies are currently making big investment decisions regarding the semiconductor industry in Germany.
If all these plans come true, a lot will come together here. And with some we are talking in detail.
Of course, although they have finally decided, they also demand that Intel remember this and invest and bet more for their country. Not everything is going to be given away, they pointed out from the German economy ministry.
On the other hand, the processor company seeks to further expand in Europe, its future projects include a research center in France and the expansion of its existing chip facility in Ireland. Although all this will be a matter of time and patience, since the increases in the cost of energy, fuel and others, have slowed down the investment plans due to the decrease in the budget they had for it. Surely they have to ask, as in this case, that the countries themselves help them pay for all this. It is not a bad strategy, take advantage of your power and strength so that they invest in you.
At the moment with Germany it has gone well for them, although they promised that they were not going to give in, they have not taken a week to say yes. His official announcement is not made, however It is expected that it will be Monday when we know all the final details.
