Germany Propably Provide 10 Billion Euros in Subsidies to Intel Chip Factories

It was reported that, according to foreign media reports, a source said that Intel’s deal to build two chip manufacturing plants in Magdeburg, Germany, would receive 10 billion euros (10.9 billion dollars) in subsidies from Germany, higher than the 6.8 billion euros reached previously.
On Monday local time, Intel reached an agreement with the German government to spend more than 30 billion euros (33 billion dollars) to build two chip manufacturing plants in Magdeburg, Germany.
Intel said that the first chip manufacturing plant in Magdeburg is expected to be put into operation within 4-5 years after the European Commission approves the subsidy scheme.

According to foreign media, Germany has a strong manufacturing foundation, and new chip factories will help create job opportunities and promote economic growth.
Nowadays, governments around the world are signing agreements with technology giants to provide them with incentives and infrastructure equipment. The latest agreement is signed by Germany and Intel, which have reached a 10 billion euro chip factory subsidy agreement.
According to reports, at the beginning of last year, the agreement reached between the two sides was that Intel would receive a project subsidy of 6.8 billion euros (approximately 7.3 billion US dollars), which is said to be equivalent to about 40% of the estimated construction cost at that time.