As per reports, Intel Corporation (INTC) has chosen the east German city of Magdeburg as the site for a new multibillion-euro European chip factory and is expected to make the decision public on March 4. The small city of Magdeburg is the capital of Saxony-Anhalt state and has space for a new plant in the Eulenberg industrial area in the southwest.
It is believed that Intel could be waiting for the introduction of new legislation before deciding on a European location, in which the European Chips Act aims to reduce the continent’s dependence on Asian suppliers for advanced semiconductors by subsidizing the local development of large chip factories. Chief Executive Patrick Gelsinger traveled to Europe last year, and the government subsidies, stability, and availability of skilled workers were factors that encouraged the CEO to choose Germany for the new plant, as per reports. However, it is not clear when production will start.
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