Feeds

EC green lights Infineon state aid

Portuguese hand-out

  • alert
  • submit to reddit

The essential guide to IT transformation

The European Commission has allowed the Portuguese government to provide Infineon with a €71.96m ($88.71m) grant to fund the foundation of a memory chip fab.

The grant amounts to 32 per cent of the cost of a project to expand production at its Vila do Conde (Grande Porto) facility.

EC investigators had to examine the deal because it exceeds €50m ($61.64m). State aid packages above that figure have to reported to the EC and checked for potential anti-competitive aspects.

This time round, the EC approved the full amount, which exactly matches the 32 per cent limit on such aid.

In March, however, the EC approved just €41.5m ($51.16m) of a proposed €76.8m ($94.67m) grant to be offered by the Portuguese government to fund a separate project at Infineon's facility at Vila do Conde. The EC began its investigation into the first grant in July 2003. ®

Related stories

EC approves Infineon state aid package
EC launches Infineon state aid probe
Chip biz breaks quarterly fab spend record
Infineon hires CEO from tyre maker
EC to fund Euro 45nm process with €24m grant

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?