The government has also agreed to up itssubsidiesfor the megaproject from 6.8bn to 10bn.
This is good news for Magdeburg, for Germany, and for all of Europe.
Construction of the plant was delayed late last year, which Intel attributed to surging energy and material costs.
In March, the companyrequestedbillions more in subsidies to cover the shortfall.
However, many within the government werereluctantto spend more taxpayer money on the scheme.
It’s free, every week, in your inbox.
Yesterdays agreement concludes months of protracted negotiations and is a major breakthrough for the megaproject.
The agreement comes just days after Intelannouncedit is investing4.6bn to build a semiconductor assembly and testing facility in Poland.
Semiconductor chips are the building blocks of digital products.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
