Magdeburg (dpa/sa) – Another milestone on the way to the investment of the US chip manufacturer Intel in Magdeburg: The city council confirmed the purchase contract for the municipal property in the south of the state capital in a non-public meeting. This was preceded by the signing of the purchase agreement between the city and Intel at a Magdeburg notary, as the city of Magdeburg announced. The company stated, “This week Intel signed the purchase agreement to acquire land in Magdeburg, Germany, the planned location for our next European semiconductor fab.”

Chips are to be produced in Magdeburg from 2027. In a first expansion stage, two semiconductor plants are to be built. Several thousand jobs could be created. Intel intends to invest around 17 billion euros for this initially. The groundbreaking could take place in the first half of 2023. The federal government has announced that it intends to support the manufacturer’s settlement with billions.