Intel plans to build $4 billion fab in Israel

Posted on Monday, July 25 2005 @ 15:23 CEST by Thomas De Maesschalck

Ariel Sharon, the Israeli Prime Minister, has been informed by Intel's head Craig Barett that the chip giant plans to build a new $4 billion fab in Kiryat Gat (in southern Israel).

The ministry said its Investment Centre is prepared to give Intel a $525 million grant for the chip manufacturing plant which would employ 2,000 employees in Kiryat Gat. By the end of July the company will submit its plan to the Investment Centre for review.

Intel currently employs 6,000 workers in a couple of manufacturing plants and development centres in Israel. Last year Intel's Israeli subsidiary exported nearly $1.2 billion of products.

More details at Reuters

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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