BRUSSELS (Reuters) – Chipmakers STMicroelectronics and GlobalFoundries on Friday secured EU approval to build a new chip factory with French state aid in France.
The companies announced their plan in July last year, with the new facility to be situated next to STM’s existing plant in Crolles and targeted to reach full capacity by 2026, with up to 620,000 wafers per year of production at a size of 18-nanometers.
“The aid will take the form of direct grants to ST and to GF, to support their investments in the project worth totally 7.4 billion euros,” the European Commission said in a statement.
(Reporting by Foo Yun Chee, editing by Marine Strauss)