[Jewish Press]Report: Intel to Invest $11 Billion in Israeli Chip Plant
Technology giant Intel, headquartered in Santa Clara, California, plans to invest $11 billion in setting up a new plant in Kiryat Gat, a city in southern Israel, some It lies 35 miles south of Tel Aviv, Globes reported on Monday. According to Globes, Intel is asking the state for a grant of 10% for its investment.
If the plan is realized, it would be the largest investment ever made by the giant chipmaker in Israel. Also, should the company receive its desired construction grant, it could reach $1.09 billion, also an all-time record.
This is in addition to other investment that was announced last May.
Last May, Intel announced it would spend $5 billion over two years to upgrade its Fab 28 in Kiryat Gat, Israel, from 22nm to 10nm production technology.