Wednesday, the European Commission gave the green light for Italy to help STMicroelectronics build a plant that will create about 700 jobs.
The Commission said that it had accepted an Italian grant of 292,500,000 euros ($292,000,000) from the Recovery and Resilience Facility (RRF) to help build the silicon carbide wafer plant in Catania, Sicily.
European Commission Executive Vice-President Margrethe Vestager said in a statement, “The Italian measure that was passed today will strengthen Europe’s semiconductor supply chain, which will help us make our green and digital transition.”
“The measure will make sure that our industry has a steady supply of new substrates for chips that use less power.”
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Vestager said that the project will make high-skilled jobs available in Sicily while keeping competition as fair as possible.
The company is investing 730 million euros, and the aid will come in the form of a direct grant, the Commission said.
($1=1.0028 euros)