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Israel gives Intel a fab grant ultimatum

Posted on Wednesday, January 25 2012 @ 20:24:31 CET by


EE Times reports the Israeli government is trying to twist Intel's arm to build a new fab in the north of the country. The chip giant has until early March to make its decision, otherwise Israel will use the 1 billion shekel (approx. $264.37 million) as a grant to another multinational. Intel had asked Israel for a $600 million grant in mid-2011, and isn't planning to make a decision until Q2 2012.
Intel has been putting off the decision of where to build its new fab, and reports in the Israeli media say the country’s Ministry of Finance and Ministry of Industry, Trade and Labor are losing patience with the chip maker.
Israel has now given Intel until early March to make its decision, in an ultimatum that would see the loan expire and the money used as a grant to another multinational, should Intel fail to respond within the timeframe.

...

Intel –which has been operating in Israel since 1964-- is said to be considering its options, with some rumblings that the firm could choose to plow its multibillion dollar investment into Ireland instead. The firm has also said it will not make a decision until the second quarter of 2012.




 



 

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