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Intel to Spend $25 Billion to Build Factory In Israel
Intel is continuing its expansion plans, spending $25 billion to build a new factory in Israel, marking the company’s biggest investment in the country.
According to Reuters, Prime Minister Benjamin Netanyahu praised the record-breaking deal. Netanyahu called it “a tremendous achievement for the Israeli economy – 90 billion shekels ($25 billion) – the largest investment ever by an international company in Israel.”
Intel released a statement touting Israel’s importance to the company’s plans.
“Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs … and we appreciate the continued support of the Israeli government,” it said.
The news comes on the heels of news that Intel and Germany agreed to a plan that will see the company invest $33 billion building a mega-site in that country.
Intel to Spend $25 Billion to Build Factory In Israel
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