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AMD gets 262 million euro grant from German government

Posted on Wednesday, July 18 2007 @ 19:19:21 CEST by

The European Commission today approved a 262 million euro grant from the German government to AMD for an investment to increase the production capacity of its fab in Dresden.
'I am pleased to approve aid for an important investment project in a high-tech sector which will contribute to regional development and job creation in a disadvantaged region of Germany,' competition commissioner Neelie Kroes said in a statement.

The project is aimed at converting and extending the existing plant. The investment involves eligible costs of 2.2 bln eur, as well as the aid amount of 262 mln. The scheme will create some 565 additional jobs.
Source: Forbes.



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