BERLIN (Reuters) -The German government has scheduled the signing of an agreement with Intel for 1245 GMT on Monday, capping off talks over a new chip-making complex on German soil.
Chancellor Olaf Scholz and Intel CEO Pat Gelsinger will be present for the signing in Berlin, the chancellery said in a statement.
The German government has not confirmed how much state funding the company is set to receive for the project in the central German city of Magdeburg.
The Handelsblatt business daily reported last week that the U.S. company will get 9.9 billion euros ($10.84 billion), up from a previously promised sum of 6.8 billion euros.
Scholz’s government is investing billions of euros in subsidies to lure tech companies to Germany. This comes at a time of growing alarm over supply chain fragility and dependence on South Korea and Taiwan for chips.
(Writing by Friederike Heine, Editing by Rachel More)
