(Bloomberg) — Taiwan Semiconductor Manufacturing Co. and GlobalFoundries Inc. have finished negotiating binding agreements for billions of dollars in grants and loans to support US factories, people familiar with the matter said, as Biden administration officials race to get Chips and Science Act money out the door.
Most Read from Bloomberg
It is unclear when the agreements will officially be signed and the incentives unveiled, according to the people, who asked not to be identified because the conversations are private. The award amounts are roughly in line with preliminary agreements announced earlier this year, the people said.
TSMCâs package announced in April includes $6.6 billion in grants and as much as $5 billion in loans to support the construction of three semiconductor factories in Phoenix. GlobalFoundriesâ agreement from February is for $1.5 billion in grants and as much as $1.6 billion in loans to support a new plant in New York state, as well as expansions of existing facilities there and in Vermont.
TSMC, GlobalFoundries and the Commerce Department declined to comment.
Most Read from Bloomberg Businessweek
©2024 Bloomberg L.P.
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
