Talks with Intel ongoing on subsidies for German plant -econ ministry

The German economy ministry said talks with Intel were ongoing and would not give details on how much the company would get in state subsidies for a planned chip site in the city of Magdeburg.

On Thursday, the Handelsblatt business daily reported that the company was expected to receive 9.9 billion euros in subsidies, up from a previously promised sum of 6.8 billion euros.

German Chancellor Olaf Scholz will meet with Intel CEO Pat Gelsinger on Monday, a government spokesperson said at a regular news conference in Berlin.

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