Germany’s finance minister says there is no money in the budget for higher subsidies for Intel’s planned semiconductor plant in eastern Germany, Financial Times reports. Intel’s plan to construct a massive €17bn chip fabrication plant in Magdeburg, Germany, is a cornerstone of the EU’s plan to produce 20% of the world’s semiconductors by 2030. However, the project has faced a number of cost overruns, leaving Intel and Germany at a stalemate over who will foot the bill for the plant, now expected to cost in the region of €20bn. Intel said in March that it wants €4-5bn more in state…
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