Germany and Intel in funding dispute over €17bn chip plant

Intel’s plan to construct a massive chip plant in Magdeburg, Germany, is arguably the centrepiece of the EU’s strategy to ramp up domestic production of semiconductors.  But cash flow has proven to be a major stumbling block for the mega-project. Intel attributes this to rising costs, partly a result of Russia’s invasion of Ukraine.  To close the funding gap, last month, the US semiconductor giant requested an additional €4-5 billion euros in subsidies to construct the plant. But German officials want Intel to meet them in the middle — they will consider boosting subsidies, but only if the company is…

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