Intel seeks extra €5bn from German government to fund mega-plant amid soaring inflation

Multibillion-euro chip plant could have been built in Ireland but the company decided to locate it in east German city instead, partly due to our creaking energy and water infrastructure

Intel’s German project forms part of an €80 billion EU-wide semiconductor investment announced last March. Picture: Getty

Intel is seeking up to €5 billion in additional subsidies from the German government to move ahead with a chip manufacturing complex in the eastern part of the country.

Bloomberg reported that the chip designer had previously reached a deal to build a plant in Magdeburg with €6.8 billion in government subsidies, subject to approval from the European Commission.

But it postponed the start of construction on the project at the end of last year ...