EU signs off major microelectronics project

A joint microelectronics project, with the aim of encouraging investment in internet-connected devices, has secured EU approval by France, Germany, Italy and Britain.The project will receive $2bn in state aid and 29 companies and research bodies will participate including Robert Bosch, Infineon, STMicroelectronics, Osram, Carl Zeiss, Global Foundries and Murata.The European Commission is also hopeful that public support for the project will help generate an additional $6bn from private investors