June 11 (Reuters) – Germany’s Finance Minister Christian Lindner is refusing Intel’s (INTC.O) calls for for larger subsidies for a 17-billion-euro ($18-billion) chip plant, saying the nation couldn’t afford it, the Monetary Occasions reported on Sunday.
“There isn’t a more cash out there within the finances,” the newspaper quoted Lindner as saying in an interview. “We are attempting to consolidate the finances proper now, not broaden it.”
The corporate was resulting from obtain 6.8 billion euros in authorities assist for its fabrication plant in Germany. Nonetheless, resulting from larger power and development prices, it’s now demanding about 10 billion euros, the newspaper reported.
Intel didn’t instantly reply to Reuters request for remark exterior workplace hours.
The corporate introduced final yr it had picked the central German metropolis of Magdeburg for a brand new chip-making complicated as part of an $88 billion funding drive throughout Europe, which included boosting a manufacturing facility in Eire, a packaging and meeting web site in Italy and organising a design and analysis facility in France.
Intel is amongst a number of chipmakers, together with Taiwan’s TSMC (2330.TW) and Wolfspeed (WOLF.N) of the U.S., looking for authorities funding to construct a factories in Europe.
($1 = 0.9305 euros)
Reporting by Anirudh Saligrama in Bengaluru; Modifying by Michael Perry and William Mallard
: .
