EU Commission to Support STMicroelectronics New Italy Plant With $292 Million
October 05 2022 - 2:29AM
Dow Jones News
By Cecilia Butini
The European Commission said Wednesday that it has approved a
tranche of Italy's post-pandemic aid which would support
STMicroelectronics NV in the construction of a semiconductor plant
in Italy with 292.5 million euros ($292.1 million)
The grant will support the company's EUR730 million investment
for the construction of the plant, which is located in Catania, the
Commission said. The establishment will focus on silicon carbide
wafers, which serve as a base for microchips used in electric
vehicles, fast-charging stations and the like.
Executive Vice-President Margrethe Vestager, who is in charge of
competition at the Commission, said the approved Italian measure
will strengthen Europe's semiconductor supply chain.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 05, 2022 02:14 ET (06:14 GMT)
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