Senior Intel executives met with Israel's Minister of Economy and Industry Eli Cohen this morning and presented a plan to invest $5 billion in expanding production in Israel between 2018 and 2020.

At the meeting this morning in the Ministry of Economy and Industry, which was also attended by director general Shay Rinsky, Chief Scientist Ami Appelbaum and Investment Promotion Center director Nahum Itzkovich, Intel Israel general manager Yaniv Garty and. VP, Technology and Manufacturing Group Plant Manager, Fab 28 Daniel Benatar presented a plan to start expanding the Kiryat Gat fab this year. The $5 billion investment would be completed in 2020.

Eli Cohen said, "Intel's choice to continue making major investments in Israel is an important vote of confidence in the State of Israel and the Israeli economy. Its operations in Israel in R&D and advanced production are supported by the policies of the Ministry of Economy to increase exports and create quality jobs in general and in peripheral regions in particular. We see Intel as a partner and its choice to again invest in Israel strengthens the Israeli economy and employment and we expect this cooperation to continue in the future. Over 320 foreign companies are operating in Israel and they make a major contribution to growth, innovation, exports and employment."

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved