Martin Kröber, a representative of the Bundestag in Magdeburg, Germany, recently announced that Intel will receive 6.8 billion euros (about 7.15 million U.S. dollars) from the German government to pay for the 17 billion euros in the construction of two side-by-side fabs in Magdeburg. The initial cost in euros accounts for 40%.
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According to Deutsche Presse AG, Kröber revealed that 2.7 billion euros will be distributed in 2022 and the remainder will be provided until 2027 when factories are expected to start manufacturing with advanced nodes such as Intel 20A (equivalent to 2nm). The factories are expected to create 3,000 permanent jobs.
The money was released under the auspices of the European Chip Act. The Magdeburg fab is part of Intel’s larger investment in Europe. The U.S. chipmaker said it plans to build an R&D and chip design center in France, as well as foundry and chip packaging services operations in Italy, Poland, and Spain.
