- Intel aid release hopeful outlook expressed by Schulze
Saxony-Anhalt's Minister of Economics, Sven Schulze from CDU, is optimistic about EU's approval of Intel's state aid in Magdeburg within the upcoming months. Both Intel, the Federal Government, and the European Commission expect the notification process to wrap up by the year's end, as stated by Schulze in the state parliament. The plan is to kick off the project next year.
The federal government sealed a financing agreement worth 9.9 billion euros with Intel, the American chip manufacturer, last year. However, these funds are yet to receive EU's approval. Intel aims to construct chip production factories worth around 30 billion euros in Saxony-Anhalt's state capital. The first expansion phase involves the establishment of two semiconductor plants, which could generate about 3,000 jobs. Construction could commence as early as next year.
Federal Ministry of Economics: Process is comprehensive
No alarming signs have emerged during recent discussions, Schulze shared. He also highlighted the fact that the process is comprehensive. The current status of the notification process remains unclear to the state government. According to Schulze, it's the responsibility of the federal government and the European Commission to monitor the situation.
When contacted, the Federal Ministry of Economics revealed that the federal government maintains regular contact with the company. "The evaluations and inspections related to the approval of grants and aid under the law are ongoing," a spokesperson stated. "Given the scale of the proposed investment, these consultations with the company and the aid approval process with the European Commission are particularly comprehensive." Due to the ongoing process, no specific details about the project can be disclosed.
The Federal Ministry of Economics is overseeing the comprehensive evaluation and inspection process related to Intel's state aid approval. It is their responsibility, along with the European Commission, to monitor the situation and ensure the approval of the substantial funds for Intel's project.
