Intel started the construction of its Fab 28 at Qiryat Gat in Israel on Tuesday morning. This will be a 45nm fab, Intel's seventh to use 300mm wafers.
Chief amongst the dignitaries was acting Israeli prime minister who boasted that Intel’s investment of $3.5 billion in the Fab, along with the associated $1.5 billion worth of improvements announced for next-door fab 18 represented the single largest investment ever announced in the country.
"If you wonder how the world economy perceives Israel then look to Intel," said Olmert. "The five billion shows that Hamas doesn’t frighten them, that terror doesn’t frighten them, that they trust in the government of Israel and the Jewish people," he said.