Intel will open a new factory in Israel with an investment of $25 billion, the Finance Ministry announces in a joint statement with the Economy Ministry and Israel Tax Authority.
As part of the agreement between Intel and the government bodies, the tech giant will employ thousands of workers in the Kiryat Gat area.
Intel is expected to begin operations in the new factory by 2028.
“The global company Intel’s choice to approve the unprecedented investment of $25 billion right here, in Israel, is important and significant,” Finance Minister Betzalel Smotrich says.
“Such an investment, at a time when Israel is facing a war against absolute evil, a war in which good is obliged to defeat evil… is an expression of confidence in the State of Israel and the Israeli economy.”
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From the Liveblog of
Tuesday, December 26, 2023
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