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BERLIN, June 19 (Reuters) – The German government and Intel have signed a revised letter of intent for the U.S. chipmaker’s planned factory in the German city of Magdeburg, Intel said in a statement on Monday.
The agreement includes Intel’s expanded investment in the site, which is now expected to come in at more than 30 billion euros ($32.77 billion), Intel said.
“Intel’s semiconductor production in Magdeburg is the single largest foreign direct investment in German history,” German Chancellor Olaf Scholz was cited as saying in the statement. ($1 = 0.9155 euros) (Writing by Miranda Murray, Editing by Friederike Heine)
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