Intel’s German fab subsidy to be upped to €9.9bn

Intel agreed to build two fabs at  Magdeburg costing €17 billion with subsidies from the German government of €6.8 billion but, earlier this year, Intel said that the cost of materials and energy had gone up and it needed a $10 billion subsidy to proceed.

Earlier this week the German finance minister, Christian Lindner, said that no more money was available.

However the economics minister is now said to have  undertaken to provide the additional funds from the economics ministry budget and the subsidy will be upped to €9.9 billion.

Handelsblatt says that Intel CEO Pat Gelsinger will sign a new agreement to build the fabs in Berlin on Monday.

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