BRUSSELS, April 6 (Reuters) European Union regulators said on Thursday they had endorsed 232.5 million euros ($286 million) of state aid for a research and development project set up jointly by Infineon Technologies, Advanced Micro Devices and a public institute in Dresden, Germany.
The project is aimed at establishing a research platform for nanoelectronic technologies including two new research centres where a series of collaboration research projects will be carried out, the European Commission said.
''I am pleased to approve aid which increases Europe's competitiveness in the field of nanoelectronic technologies, promotes innovation and at the same time contributes to economic development in an assisted region,'' EU Competition Commissioner Neelie Kroes said in a statement.
The overall project amounts to 700 million euros and is a public-private partnership between the institute, Fraunhofer-Gesellschaft, German chip maker Infineon and U.S.
Infineon and AMD already have production facilities in Dresden and will invest a significant part of their own funds.
Fraunhofer-Gesellschaft is the largest German public non-profit research institute focusing on applied research.
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