Published on June 18th, 2023 📆 | 6931 Views ⚑


Intel to build $25 bln factory in largest foreign investment in Israel – Netanyahu

JERUSALEM, June 18 (Reuters) - Intel Corp (INTC.O) will build a new factory in Israel worth $25 billion, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country.

The factory in Kiryat Gat is due to open in 2027 and will employ thousands of people, Israel's Finance Ministry said, adding that under the deal Intel will pay up a 7.5% tax rate, up from the current 5%.

There was no immediate comment from Intel in Israel.

Writing by Dan Williams; editing by James Mackenzie

Our Standards: The Thomson Reuters Trust Principles.

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