PARIS, June 5 (Reuters) – STMicroelectronics and GlobalFoundries will benefit from a subsidy from the French state of 2.9 billion euros for the creation of their new semiconductor factory in France for a total amount of 7 .5 billion euros, announced Monday the Minister of Economy and Finance, Bruno Le Maire.
“2.9 billion euros will be devoted to this investment for the opening of a new production unit on this Crolles site between GlobalFoundries and STMicroelectronics”, indicated Bruno Le Maire to journalists in Bercy, in the company of directors of both companies.
“The total investment is 7.5 billion euros,” added Bruno Le Maire.
The Minister of Economy and Finance affirmed that France aimed to create 10,000 direct and indirect jobs by 2030 in the semiconductor sector.
STMicroelectronics and GlobalFoundries announced in July 2022 the creation of a semiconductor factory in France for an initial investment of 5.7 billion euros, according to the Elysée, and which will lead to the creation of 1,000 jobs on the site from Crolles, in Isère, where STMicroelectronics already has a factory.
The new factory is expected to reach full capacity by 2028 with the production of 620,000 semiconductor wafers per year. The project will add almost 6% of new production capacity to existing European capacity.
This project is in line with the European Commission’s initiative aimed at strengthening Europe’s sovereignty in the manufacturing of chips. The European executive is ready to devote 50 billion euros by 2030 to increase Europe’s share of global chip manufacturing to 20%.
The European Commission gave its authorization in April to France to support this new factory. (Writing by Zhifan Liu, editing by Tangi Salaün)