Italian Semiconductor Plant Receives $1.36 Billion in Government Aid

Investing.com -- The European Commission has approved a $1.36 billion state aid measure from Italy. This financial support is aimed at allowing Singapore-based semiconductor company Silicon Box to establish a new advanced packaging facility in Italy's Piedmont region. The announcement was confirmed in an official statement on Wednesday.
The facility to be constructed is considered the first of its kind in Europe. Currently, there are no other advanced packaging facilities of this type in the region.
The funding provided for this project is being conducted in accordance with the EU Chips Act, which allows public funds to be largely provided by national governments. The review process for these projects takes place in Brussels.