It has been revealed that one of the world’s leading producer of semiconductor chips, Intel, has issued a business plan to invest up to $11bn in a new advanced manufacturing plant in Israel, one of the largest investments the country has received.
Set to bring thousands of new jobs to the region, Intel has stated that the deal will subject to the Israeli state providing a 10% grant within this investment. It follows on from its plans last year to also invest up to $5bn in expanding its Kiryat Gat production plant, a facility. Through the deal, Intel is set to receive $190mn in government grants.
