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Intel pauses plan to expand Israeli facility

US chip giant Intel has suspended its investment in its R&D and manufacturing site based at Kiryat Gat in southern Israel.

In December, Intel revealed it would scale up its investment in the chip manufacturing plant, with plans to inject an additional USD 15 billion into the site,. This would bring the total to USD 25 billion.

Now, the Israeli financial news website Calcalist has reported that the project is on hold. Predictably, there was immediate speculation that this is related to the Gaza war. However, Intel just issued a neutral statement, saying: “Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to the region."

Intel currently operates a manufacturing plant at the Kiryat Gat location that produces Intel 7 technology and employs 12,000 people. When the firm revealed its plant to spend USD 25 billion on a new factory last year, Prime Minister Benjamin Netanyahu called it the largest-ever international investment in the country. The factory in Kiryat Gat is due to open in 2027.


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June 13 2024 1:49 pm V22.4.55-2