EU and Belgium invest $1.6 billion in chip technology firm Imec

The European Union and Belgium’s regional Flemish authorities will collectively make investments 1.5 billion euros ($1.6 billion) in Belgian chip know-how agency Imec, the Flemish authorities mentioned on Friday.

Imec will use the funding to increase its “clean room” take a look at facility with essentially the most superior gear and processes, the corporate mentioned in a press release.

“We know we will get our money back, not only in euros but also in societal dividend,” Flemish minister-president Jan Jambon mentioned at a joint press convention with European Commission President Ursula von der Leyen and Belgian Prime Minister Alexander De Croo.

Von der Leyen, who was visiting Imec, careworn the EU’s stance that it ought to de-risk its provide chains for chips.

While Von der Leyen didn’t instantly tackle China’s deliberate curbs on exports of strategic metals broadly used within the semiconductor trade, she mentioned the EU ought to scale back its dependency “on too few suppliers from East Asia”.

Earlier this week, the EU expressed concern over China’s plans.

($1 = 0.9195 euros) (Reporting by Charlotte Van Campenhout; modifying by Mark Potter)

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