Intel probably wants more funding for chip factory in Magdeburg
Dhe American semiconductor manufacturer intel demands significantly more funding for the planned location of a chip factory in Magdeburg. From circles of the federal government it was said on Thursday that Intel now needs 10 billion euros instead of the promised 6.8 billion euros. From the point of view of the federal government, this is difficult to imagine, but the talks are still ongoing.
The economic ministries in the federal government and in Saxony-Anhalt as well as the company itself did not want to confirm corresponding media reports on the increased funding. First, the “Handelsblatt” reported about it.
According to the reports, Intel considers the additional billions to be necessary because of the increased energy and construction prices in Germany. In addition, the company wants to use a newer technology than originally planned. One is currently working with the state of Saxony-Anhalt and the federal government to close the “cost gap” caused by the additional costs, said an Intel spokesman on Thursday. After all, the company has to be competitive.
Start of production planned for 2027
In March 2022, Intel announced that in Magdeburg by 2027 chips of the latest generation are to be produced. In a first expansion stage, two semiconductor factories are to be built, which could create several thousand jobs. The investment should cost 17 billion euros. In the course of this, the federal government had promised funding of 6.8 billion euros – subject to a change in the legal framework by the EU. This should come in the summer of 2023.
Saxony-Anhalt’s Economics Minister Sven Schulze (CDU) emphasized the economic importance of the planned Intel settlement for Europe on Wednesday evening. “It’s about the fact that not only Germany, but Europe has to keep up,” said Schulze on Mitteldeutscher Rundfunk. The “essential investments” in the chip sector would continue to be made in the USA and Asia, but there was an urgent need to catch up. The planned investments are therefore “urgently necessary”.