Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted

Germany grants US' Intel 9.9 billion EUR for Magdeburg plant

  • By Al Mayadeen English
  • Source: Agencies
  • 19 Jun 2023 20:53
2 Min Read

Government sources relay to AFP that 9.9 billion euros are to support the project, up from the originally set 6.8 billion.

  • x
  • The logo of Intel Corp is pictured in front of the Intel Museum in Santa Clara, California, on Nov. 5, 2016 (AFP)
    The logo of Intel Corp is pictured in front of the Intel Museum in Santa Clara, California, on Nov. 5, 2016 (AFP)

Germany agreed to allocate almost a third of the cost of a 30-billion-euro ($32.7 billion) plant in Magdeburg on Monday for US chip giant Intel subsidies after a months-long controversial debate. 

Government sources relayed to AFP that 9.9 billion euros would be provided to support the project, up from the initial amount of 6.8 billion originally set last year after it was revealed in March. 

This follows as the EU aims to boost semiconductor production for things ranging from fighter jets to smartphones to reduce dependence on Asia, in light of the war on Ukraine.   

The project was initially expected to cost 17 billion euros, according to government sources.   

Related News

South Korea warns US chip tariffs threaten economy, global supply

Trump approves Patriot missiles to Ukraine, bills EU for costs

Read next: Intel to invest record $25bn in chip factory in 'Israel' starting 2027

At a signing ceremony with Intel CEO Pat Gelsinger, German Chancellor Olaf Scholz called the agreement "the single largest foreign direct investment in German history".

According to the firm, the project would boost the entire production process, intensifying research of new technologies and upping the manufacturing and packaging of semiconductors. Intel also revealed that it could be a costly $87.9 billion over the next decade.

As Intel backs away from Germany, the market could take a hit after US giants within the chip industry, such as Lam Research and KLA Corporation, both of which make chip-manufacturing equipment, have suspended sales and services to Chinese chipmakers.

Meanwhile, the pressure caused ASML Holding, a Dutch-based chip equipment supplier, to implore its staff in the United States to stop exporting equipment to China.

  • United States
  • Olaf Scholz
  • Germany
  • Intel
  • European Union

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS