Wednesday, November 19, 2003
The German government has agreed to provide loan guarantees to Advanced Micro Devices Inc.--a move that clears the way for the U.S. chip maker to build a new fab in the eastern city of Dresden.
The report indicated that a joint committee of the federal government and the state government of Saxony had agreed to provide credit guarantees for the fab project. The Saxony state parliament said the project would involve total investment of some 2.4 billion euros.
The fab project is expected to create around 1,400 jobs in the region. Over the weekend, reports surfaced that AMD is set to build the plant in the eastern German city of Dresden. The company has reportedly selected Dresden over East Fishkill, N.Y. for the fab.
By: DocMemory
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