2 billion euro chip factory support from EU to Italy
The European Union (EU) has approved Italy to provide 2 billion euros of public support for the chip production facility to be established.
The EU Commission announced that Italy has been approved to support STMicroelectronics’ establishment of a new semiconductor production facility in Sicily.
In the statement, it was noted that the support in question will strengthen Europe’s supply security, durability and digital sovereignty in semiconductor technologies, in line with the targets set out in the European Chip Law.
It was stated in the statement that the chip factory will also contribute to digital and green transformation, and that public aid will be in the form of a direct grant of approximately 2 billion euros to the company to support a total investment of 5 billion euros.
The chip factory in question is planned to be operational at full capacity in 2032.
The authority to determine how EU member countries will provide public support falls within the jurisdiction of the EU Commission.
Member countries can use public supports only in cases that do not harm competition and are in the public interest.