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France announces massive state aid to chips factory
France announces massive state aid to chips factory
Business and Economy
by  AFP

France is ploughing 2.9 billion euros ($3.1 billion) of public money into a factory to make microchips, officials said on Monday, heating up a global race for the lucrative market. The funding would go towards a 7.5-billion-euro project announced last year to be run by European multinational STMicroelectronics and US company GlobalFoundries.