Intel announced it will invest up to $2.7 billion to prepare its manufacturing plant in Kiryat Gat, Israel for the production of 22nm chips. The investment includes a 740 million shekel ($210 million) grant by the Israeli government.
The investment, which will make the plant in Israel's Kiryat Gat the second of Intel's properties to be fully ready for 22nm production, will boost the facility's workforce by an estimated 1,000 over the next year. More importantly, however, it will also significantly enhance Intel's 22nm production volumes.
Work on upgrading the facility to the smaller process size is due to start immediately. Maxine Fassberg, general manager of Intel's Israeli operations, stated during a press conference that 'we are already in preparation for hiring, [and] we are scheduled to start production in December.'
The first 22nm chips are expected to arrive in early 2012.