Auto-translation used

Intel's $25 billion investment in Israel 'important and significant' says country's finance minister

Intel's $25 billion investment is "an expression of confidence in the State of Israel and the Israeli economy" says Finance Minister Bezalel Smotrich

Intel Corp. is making a $25 billion investment in Israel, the country's government said Tuesday, describing the move as "important and significant."

The chip giant's investment comes after Intel secured $3.2 billion in incentives from Israel, according to Bloomberg. The Times of Israel reports that Intel's (INTC) $25 billion investment will support a chip manufacturing plant in Kiryat Gat, which will employ thousands of workers, and is expected to start operations by 2028. The deal was agreed in principle in June, according to the Times of Israel.


Comments 0

Login to leave a comment