Spain to spend 12.25 billion euros on microchip industry

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Reuters UK

MADRID (Reuters) – Spain’s government has approved a plan to spend 12.25 billion euros ($13.12 billion) on the semiconductor and micro chip industry by 2027, Economy Minister Nadia Calvino said on Tuesday, including 9.3 euros to fund the building of plants. The programme that consists mostly of European Union pandemic relief funds is directed towards the digital economy and demand created by chip shortages. It was originally set at 11 billion euros when announced by Prime Minister Pedro Sanchez last month. “The aim is to comprehensively develop the design and production capacities of the Spani…

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