ASML, Dutch Tech Firms Pledge $230M for Eindhoven Infrastructure
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A group of Dutch technology companies, including chip equipment maker ASML, will contribute approximately $230 million to a fund aimed at developing infrastructure in the Eindhoven region of the Netherlands, reports Reuters. This move aligns with "Operation Beethoven," a government initiative to invest €2.5 billion ($2.7 billion) in housing, transportation, education, and electricity in the area, one of Europe's fastest-growing technology hubs.
The corporate fund will directly support projects under Operation Beethoven, according to Brainport, the regional development agency. VDL Groep, a manufacturing conglomerate and key ASML supplier, sees its participation as a strategic growth investment.
"What is good for the region is good for the companies, and vice versa," stated VDL's chief executive, Willem van der Leegte, in a statement to Reuters.
Other participating companies include chipmaker NXP and health tech firm Philips. This significant financial commitment from leading technology companies underscores Eindhoven's growing importance as a center for innovation in Europe.