Press Release: State aid: Commission endorses €165.6 million regional aid to Qimonda for DRAM wafer project in Dresden, Germany

On 31 January, 2008, the European Commission authorised, under EC Treaty state aid rules, €165.6 million of regional aid, which the German authorities intend to grant to Qimonda for the conversion of its existing and the construction of a new DRAM wafer plant in Dresden. The Commission found the measure to be compatible with the Single Market, as it meets the requirements of the applicable 1998 Regional Aid Guidelines and the rules for regional aid for large investment projects of 2002 (see IP/02/242). The high-tech investment project of €1.2 billion by Qimonda will significantly contribute to the regional development of Saxony and does not exceed any of the relevant assessment thresholds on aid intensity, market power and additional production capacity.