The chip manufacturer Globalfoundries can start a billion-euro investment project at its site in Dresden. "This investment is a strong signal," said MEP Oliver Schenk (CDU) according to a press release. Saxony had once again impressed in the global race for locations in the semiconductor industry.
According to the information provided, the German government approved the so-called subsidy-free start of the project with a volume of 1.1 billion euros last Friday. This means that the company can already begin with steps such as the purchase of important machines before the actual funding approval has been granted.
Schenk described this as a "further milestone for the European high-tech location in Saxony and Europe's semiconductor independence". It would reduce dependence on non-European suppliers, strengthen the industrial base and secure highly qualified jobs.
Globalfoundries claims to operate the largest semiconductor factory in Europe in Dresden. Accordingly, 3,200 people are employed there.
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