STMicroelectronics NV said it plans to spend €5 billion ($5.4 billion) on a manufacturing plant for chips and packaging in Catania, Italy in a multi-year project that’s being partly funded by the European Union’s Chips Act. The Italian government, within the Chips Act framework, will give STMicro €2 billion in subsidies, the company said in a statementBloomberg Terminal on Friday. The plant, which will specialize in silicon-carbide manufacturing as well as testing and packaging, will start produ...