A computer graphic shows the chip factory planned for the US company Intel in Magdeburg.
(Photo: dpa)
Berlin According to a newspaper report, the start of construction for two planned plants of the US chip company Intel in Magdeburg, which is planned for the first half of 2023, is shaky. In view of the difficult market situation and higher costs, the semiconductor giant is moving away from its original goal for the groundbreaking, the “Magdeburger Volksstimme” reported at the weekend.
The company wants more funding. According to the newspaper, Intel points to growing geopolitical challenges, reduced demand for semiconductors, high inflation and the global economic downturn. “This means that we cannot give a definitive date for the start of construction,” an Intel spokesman was quoted as saying by the paper.
The federal government is supporting the construction project with considerable financial resources. Intel receives around 6.8 billion euros from state coffers. In view of the galloping construction and energy prices, a gap has arisen in financing, the newspaper now writes. Intel said it was talking to the authorities about it. “In the current situation, the gap has grown. We are currently working with government partners to advance the project with that in mind,” the company said.
While Intel had originally expected investments of 17 billion euros, according to the newspaper, the costs should now be over 20 billion euros. Intel did not initially comment on the report.
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The two chip factories are part of the plans of the federal government and the EU to strengthen domestic production after the corona pandemic and the consequences of the Russian war against Ukraine have revealed the risks of global supply chains.
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