Intel Corp has stepped back from its goal of opening a chip factory in Magdeburg, eastern Germany, in the first half of 2023, according to the regional newspaper Volksstimme.
The semiconductor giant has reportedly requested more public subsidies. The plant is at the center of Germany and the European Union’s plans to strengthen the continent’s resilience by producing more locally after the COVID-19 pandemic and Russia’s invasion of Ukraine.
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The newspaper reported that Intel initially allocated a budget of 17 billion euros ($ 18 billion) for costs, but the prices are now close to 20 billion euros.
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