Intel and the German government have signed a deal that will see the U.S. company spend 32.8 billion dollars to build a chip manufacturing site in the eastern city of Magdeburg. [CutID: <Cuts> GERMANY-INTEL-PLANT-house-q-TUEam.mp3 Time: 20s Title: GERMANY-INTEL-PLANT-house-q-TUEam Out-cue: Union’s executive branch] TAG: Correspondent Jeremy House reporting. Word of the agreement came as German Chancellor […]
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Intel to build $33 billion chip plant in Germany
Intel and the German government have signed a deal that will see the U.S. company spend 32.8 billion dollars to build a chip manufacturing site in the eastern city of Magdeburg.
[CutID: <Cuts> GERMANY-INTEL-PLANT-house-q-TUEam.mp3
Time: 20s
Title: GERMANY-INTEL-PLANT-house-q-TUEam
Out-cue: Union’s executive branch]
TAG: Correspondent Jeremy House reporting. Word of the agreement came as German Chancellor Olaf Scholz met Intel CEO Pat Gelsinger in Berlin.
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VERBATIM: The announcement was made after Germany pledged to cover a third of the investment required. Intel acquired the land for two semiconductor facilities in Magdeburg in November. The company says the first one is expected to start production in four or five years. The plan will need approval by the European Union’s executive branch.