Finance
Firms including chip equipment maker ASML set up fund for Eindhoven development
Published by Global Banking & Finance Review®
Posted on December 18, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 18, 2024
1 min readLast updated: January 27, 2026
ASML and Dutch tech firms invest $230M in Eindhoven to support infrastructure projects under Operation Beethoven, enhancing the region's growth.
AMSTERDAM (Reuters) - A group of Dutch technology firms including computer chip equipment maker ASML said on Wednesday it will contribute around $230 million to developing infrastructure in the Eindhoven area of the Netherlands.
The move is tied to "Operation Beethoven," a plan announced in March by the Dutch government to spend 2.5 billion euros ($2.7 billion) to improve housing, transportation, education and electricity in the region, one of Europe's fastest-growing technology hubs.
Money in the corporate fund will be used to support Operation Beethoven projects, regional development agency Brainport said.
VDL Groep, a manufacturing conglomerate that is a key supplier to ASML, said the company viewed participation as a growth investment.
"What is good for the region is good for the companies, and vice versa," said VDL's chief executive, Willem van der Leegte, in a statement.
Other participating companies include chipmaker NXP and health tech firm Philips.
(Reporting by Toby Sterling in Amsterdam; Editing by Jan Harvey and Matthew Lewis)
The article discusses ASML and other Dutch firms investing $230M in Eindhoven's infrastructure as part of Operation Beethoven.
Operation Beethoven is a Dutch government initiative to invest €2.5 billion in Eindhoven's housing, transport, education, and electricity.
Key companies include ASML, VDL Groep, NXP, and Philips.
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