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FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing Rights
BERLIN, Nov 22 (Reuters) – The negative court ruling on German finances last week could cost Intel billions of euros in subsidies for planned chip-making plants in the state of Saxony-Anhalt, the state economy minister was quoted as saying by magazine WirtschaftsWoche.
Berlin had agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker, a person familiar with the matter had told Reuters when Intel announced its plans.
« When Germany cannot afford such future projects like Intel anymore, then the economic damage will be enormous and the image damage gigantic, » Sven Schulze, economy minister of Saxony-Anhalt was quoted as saying.
Reporting by Matthias Williams; Writing by Sarah Marsh; Editing by Madeline Chambers
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