Intel Corp is seeking an additional 4 billion to 5 billion euros in subsidies from the German government to build a chip manufacturing complex in the country, Bloomberg News reported, citing people familiar with the matter.
The U.S. chipmaker last year postponed the plant construction in Magdeburg - for which it had reached a 6.8 billion euro deal in government subsidies, subject to approval from the European Commission - due to economic headwinds and is now looking for more aid, the report said on Tuesday.
The initial spending was then estimated to total 33 billion euros, including 17 billion euros in Germany. However, Bloomberg News reported Intel now expects to spend 30 billion euros in its project in Germany. Intel was expecting roughly 40 per cent of its Germany project to be subsidized, under the EU's Chips Act, but is now also open to other sources of government aid including tax breaks or energy subsidies, the report added.
The expansion in Ireland and France, meanwhile, remains largely on track, the people told Bloomberg News.
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