BERLIN (Reuters) – Germany is in intensive talks with Intel on plans to set up a new chip-making complex on its soil, the economy ministry said on Friday, without commenting on how much state funding the company was set to receive for the project.
“The goal of the government is clear: We want to strengthen Germany as a location for microelectronics. This is highly important for transformation and technological sovereignty, and for this reason we are conducting intensive talks,” a ministry spokesperson said.
She did not say how much the company would receive in state subsidies for the site in the central German city of Magdeburg.
On Thursday, the Handelsblatt business daily reported that the U.S. company is expected to receive 9.9 billion euros ($10.84 billion) in subsidies, up from a previously promised sum of 6.8 billion euros.
German Chancellor Olaf Scholz will meet with Intel CEO Pat Gelsinger on Monday, according to a government spokesperson.
Handelsblatt had reported that final negotiations would take place over the weekend.
($1 = 0.9136 euros)
(Reporting by Rachel More and Anastasiia Kozlova; Editing by Miranda Murray)
