EIB supports STMicroelectronics with €600 million loan
The loan will support the semiconductor group's R&D activities and pilot production lines for advanced semiconductors in Europe.
These investments will be implemented in STMicroelectronics’ existing facilities in Italy (Agrate and Catania) and France (Crolles), a press release reads.
The global semiconductor market is currently worth more than EUR 500 billion and is expected to double by 2030. Europe accounts for around 10% of world production capacity, a sharp decline compared with previous decades; 24% in 2000 and 44% back in 1990.
“The EBI’s role is crucial, when it grants a €600 million loan to STMicroelectronics. Our goal is clear: to accelerate the production of semiconductors in France and Italy. It is only by mastering this technology, that we will be able to safeguard the European Union’s strategic independence,” says Bruno Le Maire, French Minister for the Economy, Finance and Recovery, in the press release.
The EIB's support for STMicroelectronics actively contributes to the policies put in place at European level, aiming to trengthen the semiconductor industry in Europe, in research and development, design and production and bring public financing to strategic industrial projects. The aim is to support the competitiveness of European players in the semiconductor space.
“It is essential to work in Europe on the whole value chain: R&D, design and manufacturing, in collaboration with the different European ecosystems. ST will contribute to the goal of 20% of global production in Europe by 2030 and will continue to develop and manufacture in Europe innovative technologies and products to support the environmental transition and the digital transformation of all industries,” says Jean-Marc Chéry, President and CEO of STMicroelectronics.