Reuters has obtained a draft law that would provide Italy with more than 4 billion euros by 2030 as an incentive to boost domestic chip production. With these funds, the country's leadership is seeking to attract more investment from technology companies such as Intel.
In particular, the government is trying to persuade an American company to build a cutting-edge chip manufacturing plant in Italy. Earlier it was reported that Rome is ready to offer Intel state funds and favorable conditions for joint investments, which are expected to amount to about 8 billion euros over 10 years.
To stimulate domestic chip production, Italy is also in talks with French-Italian company STMicroelectronics, Taiwanese company MEMC Electronic Materials and Israel's Tower Semiconductor, which Intel is considering buying.
A government source involved in the talks told Reuters that the talks are difficult because the American company has made very stringent demands.
Rome is also relying on new rules for financing innovative semiconductor manufacturing, passed last month by the European Commission under the so-called "Chips Act", to secure the deal with Intel. In short, Brussels intends to allocate 15 billion euros of additional public and private investment by 2030 on top of the 30 billion euros of public investment already planned from NextGenerationEU, Horizon Europe and national budgets.
Intel itself announced back in September that it could invest up to $95 billion in Europe over the next decade. According to the latest data, the German city of Magdeburg has been chosen as the site for the construction of a new plant in Europe.
bbabo.Net