News Article
More state money agreed for Infineon Portugal
The European Commission has agreed further state aid in favour of Infineon's chip production site in Vila do Conde (Grande Porto), Portugal.
The European Commission has agreed further state aid in favour of Infineon's chip production site in Vila do Conde (Grande Porto), Portugal.
The aid will be given as investment aid in the form of a non-reimbursable grant and in the form of an income tax exemption for profits deriving from the notified investment. The aid authorised amounts to EUR71.96mn in net terms. The investment is expected to result in 423 jobs in the region.
Infineon Portugal (IP) performs assembly and final test of dynamic random access memory (DRAMs). According to the Portuguese authorities, the Infineon plant located in Portugal is the only back-end unit in the DRAM production sector in Europe.
Earlier this year (Bulletin 522, March 17, 2004,), the EC took a positive decision on state aid in favour of IP. This authorisation concerned another project to be executed at Vila do Conde.
