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Wednesday, 03 July 2013 07:05

Intel mulls $10 billion investment in Israel

Written by Peter Scott

Holy silicon

Intel is reportedly in talks with Israeli officials about a potential $10 billion investment in Israel.

In an interview with a local paper, Nahum Itzkovich, the new director of the Economy Ministry's Investment Centre, said Intel is interested in a “huge investment” of $10 billion and that the ministry is engaged in intensive negotiations with the chipmaker.

Intel is apparently planning to invest $7 billion in a new plant in Kiryat Gat over the next ten years. In addition, it is expected to invest a further $3 billion to upgrade its existing Fab 28 in the same town, which usually gets into headlines only when the Israelis and Hamas engage in their annual episode of rocket diplomacy.

Last time around Intel asked Israel for a generous subsidy, but since it has already set up shop in the Middle Eastern country, it might not get a very good deal this time around. Intel is still not saying anything about the plans.

More here.

 

Peter Scott

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