The new plant should create around 1,000 additional jobs at the Crolles site, where STMicroelectronics already has a large manufacturing site, and will benefit from "significant financial support from the French state", according to the two companies.
The project is the jewel of the investment program and the "Choose France" summit, intended to promote the attractiveness of France, which is being held on Monday at the Palace of Versailles in the presence of Emmanuel Macron.
The new plant "will contribute significantly to the objectives of the European + Chips Act + plan, one of the aims of which is to increase Europe's production capacity to 20% of global capacity by 2030", specified the two businesses.
"This major investment over several years aims not only to produce advanced technology semiconductors in Europe, but also to support the leadership and resilience of European technology ecosystems, from research and development to high-volume production, and thus meet the demand of European and global customers,” the statement said.
The semiconductors produced in the new factory will notably serve end markets "such as automotive, industrial, IoT and communication infrastructure".
© 2022 AFP