This is the best summary I could come up with:

It has been in talks with the German state of Saxony, where Dresden is located, since 2021 about building a fabrication plant, or “fab.”

"With this TSMC investment, another global player in the semiconductor sector is coming to Germany.

This shows that Germany is an attractive and competitive location," German Economy Minister Robert Habeck said in a statement.

The chip giant said in its statement on Tuesday that it approved a capital injection of not more than $4.5 billion for that plant as part of the overall investment.

According to the business daily Handelsblatt, Germany has agreed to pitch in with 5 billion from the government’s climate and transformation fund for the construction.

The EU has already approved a €43 billion subsidy plan to double its chipmaking capacity by 2030.

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