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STMicroelectronics can have EUR2 billion in Italian aid for chip plant, EU watchdog says

( May 31, 2024, 07:01 GMT | Official Statement) -- MLex Summary: STMicroelectronics will receive direct grants worth around 2 billion euros from the Italian government to support its investment in a new chip-manufacturing plant for its silicon carbide power devices in Catania, Sicily, after the European Commission cleared the support under EU state aid rules. The measure will boost Europe's security of supply, resilience and digital sovereignty in semiconductor technologies, in line with the European Chips Act Communication, the commission said today.Statement follows. ...

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