Spain aims to become Europe's main semiconductor manufacturing center.

The European Union has set up a fund to help the government finance the infrastructure for semiconductor manufacture.

According to Prime Minister Pedro Sanchez, Spain plans to invest 11 billion euros from European Commission money to become a top European destination for the manufacture of microchips and semiconductors.

There is a growing geostrategic importance to semiconductors in the digital revolution of the energy sector, Sánchez added.

The government will finance the semiconductor production infrastructure with money from a fund formed by the European Union to promote the recovery of member economies from the pandemic crisis.

As one of the worst-hit countries, Spain will get 140 billion euros from the pandemic relief effort.

Madrid has so far specified nine major sectors for public-private partnerships in the utilization of EU money, including electric cars, health, renewable energy, agriculture and artificial intelligence.