Knesset committee approves $185.5 million grant to Intel Company
The Knesset Finance Committee approved a $185.5 million grant to the Intel Company to expand a production plant in southern Israel, Trend reports referring to The Times of Israel.
The grant is part of a planned $5 billion investment by Intel in its plant in Kiryat Gat, which the company announced in May, the business daily Globes reported. The company also committed to hire 250 new employees, and use local vendors and retailers for some deals.
The Fab 28 plant manufactures chips for servers, workstations, mobile computers, and desktops, according to the business publication Calcalist.
Intel is Israel’s largest private employer and biggest exporter, with Intel Israel exporting $3.6 billion worth of goods in 2017, according to Globes.