On March 3rd local time, according to Semimedia, STMicroelectronics recently announced that the European Investment Bank (EIB) will provide a 600 million euro loan for its research and development (R&D) and some industrial activities in Europe.
The project involves investments in the R&D of innovative technologies and components, as well as pilot production lines for advanced semiconductors. These investments will be implemented in ST's existing plants in Italy (Agrate and Catania) and France (Crolles) to help develop semiconductor technologies and products and address the major challenges of environmental and digital transformation in all industries.
The global semiconductor market is currently worth more than 500 billion euros and is expected to double by 2030. Europe accounts for about 10% of the world's production capacity, a sharp drop from previous decades (24% in 2000 and 44% in 1990).
The EIB's support for STMicroelectronics actively promotes policies at European level, coordinated with Member States, to strengthen the European semiconductor industry's R&D, design and production, and to bring public financing to strategic industrial projects. The aim is to strengthen the competitiveness of European players in the semiconductor industry, as it affects all industrial sectors, especially those where European manufacturers have a leading position.
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