Israel has granted Intel approval for a substantial $3.2 billion grant to establish a chip plant in southern Israel.
This decision is unrelated to the ongoing tensions with Hamas and is aimed at enhancing the global supply chain’s resilience.
Intel plans similar manufacturing expansions in Europe and the United States.
The $3.2 billion grant represents 12.8% of the overall investment and aligns with Israel’s initiative to promote economic progress and innovation.
Intel has committed to acquiring goods and services worth 60 billion shekels from local suppliers in the next decade.
The establishment of the new plant is anticipated to create thousands of jobs.
Intel, already managing four sites in Israel with nearly 12,000 employees, confirmed its further investment following an announcement by Prime Minister Benjamin Netanyahu.
The expansion project includes constructing clean rooms and essential support structures.
The new facility is expected to commence operations in 2027 and remain operational until 2035.
Intel’s strategic move strengthens its presence in Israel and contributes significantly to the country’s economic framework and job market.
This decision aligns with Intel’s global agenda, emphasizing its pivotal role in the dynamic technology supply chain.
