Intel to open chip factory in Israel
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The American corporation Intel will invest $25 billion in the construction of a chip manufacturing plant in Kiryat Gat, writes Reuters, citing a statement by Israeli Prime Minister Benjamin Netanyahu.
The enterprise should start in 2027. It is expected that the new Intel plant will operate at least until 2035, it will employ “thousands of people”, the agency reports, citing the Israeli Ministry of Finance. The construction arrangement assumes that Intel will pay a 7.5% tax, up from the current 5%.
The American corporation is already working in Israel. As Intel notes on its website, in nearly ten years in the country, the company has become Israel’s largest private employer and exporter, and is an industry leader.
Netanyahu called the deal a huge achievement for the Israeli economy and “the largest investment ever made by an international company in Israel.”
Intel was founded in 1968 by Gordon Moore and Robert Noyce. The corporation is engaged in the development and production of computer components. Intel gained worldwide fame through the production of microprocessor chips, including 386 and Pentium.
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