The European Commission has authorised the granting of regional aid amounting to EUR 165.6 million, which will be provided by German authorities to Qimonda for the conversion of its existing facilities and the construction of a new DRAM wafer plant in Dresden. DRAMs (also known as "memory chips") are highly complex microchips that are used in computers, entertainment electronics, mobile communications and other electronic devices. The high-tech investment project by Qimonda is expected to contribute significantly to the regional development of Saxony, a disadvantaged area with a low standard of living and high unemployment rate. As the regional aid does not exceed any of the relevant assessment thresholds on aid intensity, market power and additional production capacity, the Commission has decided that it is compatible with the common market.
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Commission authorises regional aid to Qimonda for DRAM Wafer project in Germany
- McDermott Will & Emery
- Patricia Armesto
- European Union, Germany
- February 8 2008
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