According to Israel's Globes website on Monday, the famous American chip maker Intel plans to invest 40 billion shekels (about 10.89 billion US dollars) to build a chip production plant in Israel. For this project, the government of Israel applied for a 10% subsidy.
The report said that the dialogue between Intel and the Israeli Ministry of Finance has been going on for several weeks, and the current dialogue is still going on. According to reports, Intel's global management has not yet made a final decision.
The Globe reported that Intel’s goal is to build a new plant in the southern Israeli city of Kiryat Gat, but sources have revealed the final amount of Intel’s investment. It may also be lower than the predetermined amount.
Intel declined to respond to this news.
Before the news came out, Intel promised that they would invest 18 billion shekels (about $5 billion) between 2018 and 2020. The company is located in an existing facility in Yategate to upgrade.
The report said that the agreement between Intel and the Israeli government may include an exemption from the bidding obligation of a government project, and Intel has begun to build Preparation for the infrastructure of the new plant.
The California-based Intel is Israel's largest employer and exporter, and many of the company's new technologies are developed in Israel.
Intel Corporation is an American multinational corporation and technology companyheadquartered in Santa Clara, California, in the Silicon Valley. It is the world's second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel ranked No. 46 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactures motherboardchipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.