01:57 PM EDT, 03/28/2024 (MT Newswires) -- ASML Holding ( ASML ) on Thursday welcomed a plan by the Dutch government to allocate 2.51 billion euros ($2.71 billion) to support the microchip sector in the city of Eindhoven.

In a statement to MT Newswires, the company said the plan would be conducive to business conditions for the microchip sector.

"As we have said before, we have a preference to achieve a significant part of our expansion plans in the Netherlands, provided that such expansion plans are supported by favorable business conditions such as the availability of high-quality talent, infrastructure, public housing, and by a strong general business climate," an ASML ( ASML ) spokesperson said.

The Dutch Ministry of Economic Affairs and Climate said in a statement the funds earmarked under the Project Beethoven initiative assumes further investments from ASML ( ASML ) and that the company will maintain its statutory, tax and actual headquarters in the country.

The Dutch government has been in talks with ASML ( ASML ) to dissuade the company from relocating or expanding abroad due to concerns over anti-immigration policies.

The ASML ( ASML ) spokesperson said the company will continue to work with the government to finalize expansion plans.

Dutch tech giant ASML ( ASML ) is based in Veldhoven, just west of the city of Eindhoven.

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