Categories: Agreements

Intel and Germany Sign $32.8 Billion Chip Plant Agreement

Intel and Germany Sign $32.8 Billion Chip Plant Agreement

Intel has commited to invest $32.8 billion in Magdeburg,a city in Germany for the establishment of two cutting-edge semiconductor facilities. This collaboration, with financial support from Berlin, represents the largest foreign investment ever made in Germany. The German government, recognizing the strategic importance of the semiconductor industry, has pledged to provide approximately 10 billion euros in financial support toward Intel’s overall investment in the country The deal is poised to bolster the country’s semiconductor industry and solidify Intel’s position as a leading player in the market.

Intel acquired the land for two semiconductor facilities in Magdeburg in eastern Germany in November, and the company says the first of them is expected to start production in four or five years. The investment in Germany means a significant expansion of Intel’s production capacity in Europe and is the biggest investment ever made by a foreign company in Germany. If all investment plans currently being considered are implemented, and we are working on this, including today, Germany will become one of the big global semiconductor production sites.

Static News

  • Intel is an US based Company which is one of the world’s largest semiconductor chip manufacturer by revenue, headquartered in Santa Clara, California.
  • CEO of Intel is ‘Pat Gelsinger’
  • German Chancellor is ‘Olaf Scholz’

Find More News Related to Agreements

Saurabh

Recent Posts

Top-10 Most Expensive Woods in the World, Check the List

Wood is a natural material used in furniture, tools and decoration. It comes from trees…

10 mins ago

India’s First Bio-Bitumen Stretch Inaugurated by Nitin Gadkari

Union Minister for Road Transport and Highways, Nitin Gadkari, inaugurated India's first bio-bitumen-based National Highway…

23 mins ago

In Which District of Uttar Pradesh is the Tomb of Bahu Begum Located?

The Tomb of Bahu Begum is a historical monument located in Uttar Pradesh. It was…

1 hour ago

List of International Recognition Awards to PM Modi

Prime Minister Narendra Modi has earned numerous international awards over the years, reflecting his diplomatic…

1 hour ago

Third Fastest List-A Century Anmolpreet’s Record Breaking Knock

Punjab's top order batter, Anmolpreet Singh, scripted a history by scoring a third fastest List…

2 hours ago

Epigamia Co-Founder Rohan Mirchandani Passes Away 42

Rohan Mirchandani, the co-founder of the popular brand Epigamia, tragically passed away at the age…

2 hours ago