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

May 15, 2018

Via: Reuters

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.

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