Intel Selects City of Magdeburg For New Chip Factory in Germany

Business

The company ‘Intel’ has selected the city of Magdeburg in the eastern region of Germany as the location or site for building a new European chip factory and the company is going to be making the decision public on 4th March 2022.

The company also said that, it can possibly invest around 95 billion dollars in the continent of Europe over the coming decade and the company has also announced the locations of the two big chip fabrication plants in the region of Europe by the end of the year 2021, but the company has not made any announcement.

Germany had been on the top of the list of the potential locations along with the local governments of the regions including Bavaria, Dresden and Magdeburg in the eastern region of Germany that has been trying to tempt the company of the United States.

The analysts also said that, the company ‘Intel’ can possibly be waiting for the introduction of the new legislation before making any decision on a location in Europe, and the European Chips Act has also been aiming for decreasing the dependence of the continent of Europe on the suppliers of Asia for the advanced semiconductors by subsidizing the local development of the big chip factories in the region.

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Patrick Gelsinger, chief executive officer of Intel said that, the subsidies from the government along with the availability and stability of the skilled workers had been the factors that has encouraged him for choosing the country of Germany for the new factory.

Sandy

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