Handelsblatt reports that on Monday, Intel is expected to make an announcement about an increase in its subsidy from the German government for its Magdeburg fab-site. Initially, Intel had agreed to construct two fabs at Magdeburg for €17 billion with a subsidy of €6.8 billion from the German government.
However, earlier this year, Intel cited an increase in material and energy costs and requested an additional $10 billion subsidy in order to proceed. This request was denied by the German finance minister, but the economics minister has reportedly promised to provide the additional funds from the economics ministry budget. The new subsidy amount is said to be €9.9 billion. According to Handelsblatt, Intel's CEO Pat Gelsinger will sign a new agreement to build the fabs in Berlin on Monday.
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