• Sign in
  • 1751972643_633.png 1751972643_245.png 1751959824_218.svg 1751959824_520.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12692.42
    • RUB158.44
    • EUR14511.24
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +24°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    World

    Intel invests fortune to build chip plant in Germany

    Intel invests fortune to build chip plant in Germany

    Intel has signed a deal with the German government to construct a chip manufacturing plant in Magdeburg, Germany, Euronews reports. 

    German Chancellor Olaf Scholz, right, and Intel CEO Pat Gelsinger, left, shake hands
    Photo: AP

    The agreement involves Intel, an American multinational semiconductor company investing over €30bn, making it the largest foreign direct investment in the modern history of the country.

    German Chancellor Olaf Scholz and Intel CEO Pat Gelsinger met in Berlin to finalize the agreement, which includes the German government pledging to cover one-third of the total investment required. 

    Intel acquired the land for two semiconductor facilities in Magdeburg in November and expects the first plant to commence production within the next four to five years. 

    "The investment in Germany means a significant expansion of Intel's production capacity in Europe and is the biggest investment ever made by a foreign company in Germany," Vice Chancellor and Economy Minister Robert Habeck stated in a press release.

    Before the revised letter of intent was signed on June 19, plans had foreseen a total investment of at least €17bn. The German government confirmed that it will now provide €9.9bn raising its contribution to one-third of the total investment.

    German Chancellor Olaf Scholz and Intel CEO Pat Gelsinger during the signing ceremony of an agreement
    Photo: AP

    The plan will need approval by the European Union's executive branch to ensure the deal doesn't give Intel an unfair advantage over its competitors.

    The “Silicon Junction” project in Magdeburg adds to Intel's plans for an assembly and test facility near Wroclaw, Poland, and an existing chip factory in Ireland.

    The construction of the two semiconductor plants is anticipated to be completed by 2027. This project is expected to create 3,000 high-quality jobs and generate additional employment opportunities in supplier networks, strengthening the regional economy.

    The decision to support Intel's investment has not been without criticism, as some have questioned the substantial amount of public funds being allocated to one of the world's largest corporations. However, Governor Reiner Haseloff of Saxony-Anhalt emphasized the importance of strategic self-sufficiency for Europe.

    "We cannot allow strategic technologies to take place and be made in Asia or exclusively in America, but we as Europe must have a certain self-sufficiency and also be able to provide decisive key products ourselves," Governor Reiner Haseloff said.

    By attracting major semiconductor investments, Germany aims to position itself as a prominent global hub for chip production. Chancellor Scholz, in a speech to Germany's main industry lobby group, reaffirmed the country's commitment to fostering chip production in Europe and reducing its dependence on imported chips and global supply chains.

    “If all investment plans currently being considered are implemented, and we are working on this, including today, Germany will become one of the big global semiconductor production sites,” he said.

    The Intel chip plant in Magdeburg, combined with the company's assembly and test facility near Wroclaw, Poland, and its existing chip factory in Ireland, will significantly strengthen Intel's presence in Europe and contribute to the EU's goal of achieving greater autonomy in microchip production.

    21.06.2023, 09:47   Comments (0)   819
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Florida court blocks release of evidence in Donald Trump case

    21.06.2023, 09:40

    Georgia overtakes Italy as top supplier of still wines to Russia

    21.06.2023, 09:25

    Greece seeks help from EU for investigation of recent case of North African migrants drowning near Greek coast

    21.06.2023, 07:59

    India's heatwave claims 170 lives, morgues overflow and hospitals struggle to cope 

    20.06.2023, 23:40

    French police raid Paris 2024 organizers in corruption probe 

    20.06.2023, 23:36

    Himalayan glaciers at risk: report predicts 80% ice loss by 2100 amid escalating temperatures

    20.06.2023, 19:09
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beeline Uzbekistan started 2025 with a significant network modernization


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024

     

    Recommended

    Heatwaves could kill thousands annually across Central Asia by 2090, World Bank warns

    17 July, 12:10

    Azerbaijan vs Russia: why a bilateral quarrel is reverberating across Central Asia

    9 July, 15:42

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12
     
     
     

    Latest news

    Uzbekistan’s Tashkent airport passenger traffic expected to reach 15mn by 2030, prompting major transport projects

    Uzbekistan | 2 August, 15:32

    Uzbekistan joins Asian Cricket Council, strengthening regional ties

    Uzbekistan | 2 August, 13:03

    Uzbekistan dismisses two senior officials from economic crimes department amid high-level reshuffle

    Uzbekistan | 2 August, 10:58

    Afghanistan launches $36mn solar power project in Logar

    Afghanistan | 1 August, 17:10

    China to build two nuclear power plants in Kazakhstan

    Kazakhstan | 1 August, 15:00

    First solar power facility in Uzbekistan joins international I-REC system

    Uzbekistan | 1 August, 13:52

    Kyrgyzstan, Vietnam partner on 1,900 MW solar power project in Issyk-Kul

    Kyrgyzstan | 1 August, 12:02

    Annual inflation in Uzbekistan rises to 8.9% in July

    Uzbekistan | 1 August, 10:57

    Uzbekistan to expand use of space tech and digital tools in agriculture reform drive

    Uzbekistan | 1 August, 09:00
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.