Intel wants 10 billion euros of government funding for the plant in Germany -Handelsblatt | – #Intel #billion #euros #government #funding #plant #Germany #Handelsblatt

BERLIN, Feb 8 (Reuters) – Intel ( INTC.O ) has submitted a new estimate to Germany’s economy ministry for a planned chip factory in Magdeburg, which the government said would cost around 10 billion euro (10,74 billion dollars) considers its financing necessary. This was reported by the business daily Handelsblatt on Wednesday, citing sources in the government.

An Intel spokesman declined to comment on the Handelsblatt figure, but said the group was “working very closely with government partners to close the critical cost gap.”

The company explains that the already approved 6.8 billion EUR (7.3 billion dollars) is necessary due to high energy costs and wants to use more advanced technology at the plant than originally planned, Handelsblatt said. .

($1 = 0.9308 euros)

Reporting by Kirsty Knolle; Edited by Matthias Williams

Our standards: Thomson Reuters Trust Principles.

2023-02-08 22:56:04
Source – reuters

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