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Bloomberg
Intel Corp will delay construction of its German chip plant and is seeking more in government subsidies, Volksstimme reported.
The US-based chipmaker earlier this year announced plans for a mega site worth $18 billion in Magdeburg. Construction was set to begin by mid-2023, and the government planned to provide €6.8 billion in state aid.
The cost has now risen to €20 billion, according to Volksstimme. Intel no longer has a planned start date for construction and wants the German government to increase subsidies, according to the report.
The company is monitoring the situation and “will pace these
investments with the market,â€
it said.