Microchip giant TSMC will open its first ever European plant.
The complex will be based in the German city of Dresden and is expected to be a project worth more than €10 billion that will strengthen the continent's position in the strategic industrial sector.
TSMC will own 70% of the project and will work with three European partners, the Dutch company NXP and the German Infineon and Bosch, each with a 10% stake.
