Pioneering Semiconductor Facility in Italy Gains EU Approval

The European Commission has authorized a €1.3 billion state aid package from Italy to help Singapore-based company Silicon Box establish an advanced semiconductor packaging facility in Piedmont. This initiative marks a unique development in Europe, with significant financial backing under the EU Chips Act framework.

The European Commission has given its nod to a €1.3 billion Italian state aid initiative aimed at supporting Silicon Box, a Singapore-based semiconductor company, in establishing a new advanced packaging facility in Piedmont, Italy.

This groundbreaking facility is touted as the first of its kind in Europe, addressing a gap in the continent's semiconductor infrastructure.

The project is funded under the EU Chips Act, which sees public money being primarily supplied by national governments, with the vetting process managed in Brussels.

(With inputs from agencies.)