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U.S. chipmaker Intel submits plans for $5 billion Israel expansion

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  • U.S. chipmaker Intel submits plans for $5 billion Israel expansion

    JERUSALEM (Reuters) - Intel Corp (INTC.O) said on Tuesday it had submitted plans to expand its production operations in Israel, with the government saying the U.S. chipmaker would invest about $5 billion.

    Intel is one of the biggest employers and exporters in Israel, where many of its new technologies are developed. The new investment will upgrade its Kiryat Gat manufacturing plant in southern Israel, the company said in a statement.

    Intel did not provide financial details.

    Israel's Finance Ministry said the company would invest about 18 billion shekels ($5 billion) in the factory between 2018-2020 and had agreed to spend 3 billion shekels on local suppliers.

    https://finance.yahoo.com/news/u-chi...114522341.html

    Jobs for Israelis and $$ for their economy
    Tall Timbers, Imperfect but forgiven

    3 trees

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    • #3
      Totally awesome.
      Better is one day in your courts than a thousand elsewhere; I would rather be a doorkeeper in the house of my God than dwell in the tents of the wicked. Psalm 84:10

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