The European Commission has authorised Euros 262 million of aid, which the German government will give the US chip manufacturer Advanced Micro Devices (AMD) to upgrade its wafer plant in Dresden, Germany.
The money will go towards the conversion and extension of existing microprocessor wafer plant. The Commission said the grant is compatible with the Single Market, as it meets Regional Aid Guidelines of 1998 and the rules for regional aid for large investment projects of 2002.
In total AMD will invest Euro 2.2 billion in the project, which will create about 565 additional jobs.
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