Europe pushes on semiconductors. The EIB granted a loan from 600 million euros to Stm to be invested in research, development and pre-industrialisation.
The EIB loan to Stm: the objectives
In fact, the operation concerns investments in R&D activities for innovative technologies and components and in pilot production lines for advanced semiconductors. These investments will be made in the St plants in Italy (Agrate and Catania) and in France (Crolles) “and will contribute to the development of technologies and products to address the major challenges of environmental transition and digital transformation across all sectors,” the company said in a statement.
The EIB loan falls within the new EU strategy on semiconductors. In fact, on February 8th, the EU Commission at the European Chips Act, a 43 billion euro plan which aims to double the European market share in the production of semiconductors, bringing it to 20% by 2030.
The goal is to put an end to European dependence on Asian giants and prevent crises such as the one experienced during the pandemic from recurring, when entire industrial sectors (cars in primis) were forced to stop or slow down production due to the shortage of semiconductors.
The EIB loan "complements the various existing instruments to support our industry, such as the Important Projects of Common European Interest (IPCEI) and others which are currently being prepared by the European Commission and Member States", said the CEO of St, Jean-Marc Chery, explaining that "it is essential to work in Europe along the entire value chain: R&D, design and production, in collaboration with the different European ecosystems".
St, added the number one of the company, "will contribute to the goal of 20% of global semiconductor production in Europe by 2030 and will continue to develop and produce innovative technologies and products in Europe to support the environmental transition and digital transformation of all industries". The global semiconductor market is currently worth more than €500 billion and is expected to double by 2030.
The comments of ministers Franco and Le Maire
The chip sector “is fundamental in the digital transition path of the economies of the European Union. The support that the EIB provides to St, one of the most advanced and innovative companies on the world scene, represents an important step to strengthen the European semiconductor industry and make it more competitive, with important positive effects on employment and growth", he said the Minister of Economy and Finance, Daniele Franco.
Of the same opinion Bruno Le Maire, French Minister of Economy, finances and the recovery, according to which “there is no political sovereignty without technological sovereignty. Europe must use all the instruments at its disposal to invest in new technologies”.
