Intel to build a microprocessor plant in Israel

Intel to build a microprocessor plant in Israel

Intel is going to invest around USD 4 Billion to build another microprocessor plant in Israel. This was revealed by the Israeli Prime Minister Ariel Sharon who informed his cabinet members of this news. Sharon said that he was informed by the head of Intel Corporation about these plans of the company. Sharon was quoted as saying: “I spoke yesterday with the head of Intel, Craig Barrett, who informed me the company had decided to build another plant in Kiryat Gat in an investment of about $4 billion.”

Intel has on their part declined to comment on these market rumors. The government along with the Industry and Trade Ministry and the Finance Ministry had put together their efforts in getting this project from the largest processor company in the world. The investment center of the ministry is expected to give a grant of 15% to the investment of around USD 3.5 Billion.

Many countries around the world were vying for this lucrative project from the American tech giant. This is expected to generate employment for around 2ooo workers in Kiryat Gat where Intel already has a plant producing Pentium processors and other Intel chips. The company employee around 6000 in the various factories located in Israel and has been operating here for around 30 years.

Intel is expected to submit their final project reports by the end of the month and the prime minister of Israel claims that the decision taken by Intel proves that they have faith in the stability of the Israel’s government and capabilities.