The chip group Infineon is pushing ahead with its plans to expand its Dresden location, which will cost billions. The board of directors and supervisory bodies have given the green light for the project, the company announced. The Federal Ministry of Economics had previously granted approval for the early start of the project. According to Infineon, this means that the work can already begin during the state aid assessment by the EU Commission.
Infineon is aiming for public funding of around one billion euros in line with the European Chips Act, which aims to achieve a 20 percent share of global semiconductor production in the EU by 2030. As announced in November, the total investment should be around five billion euros. The company announced that construction work is scheduled to begin in autumn 2023. Infineon plans to start production in autumn 2026.
Around 1000 jobs are to be created. At full capacity, the factory makes it possible to achieve additional annual sales in the magnitude of the investments.