Future Tech

EU clears 2 billion Italian state aid for STMicroelectronics chip plant in Sicily

Tan KW
Publish date: Fri, 31 May 2024, 03:40 PM
Tan KW
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Future Tech

 The European Commission on Friday approved Italian state aid measures worth 2 billion euros ($2.16 billion) to support chipmaker STMicroelectronics set up a new semiconductor manufacturing facility in Catania, Sicily.

The aid will take the form of an approximately 2 billion euro direct grant to support an investment worth 5 billion euros in total, the EU Commission said in a statement.

 


  - Reuters

 

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