Daily Management Review

Intel to invest unprecedented amount in chip production in Israel


Israel's chip plant will be built with a record $25 billion investment from U.S. Intel, according to Israeli Prime Minister Benjamin Netanyahu.

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The finance ministry of Israel and Intel have agreed to invest $25 billion in a chip facility, the Israeli prime minister announced on Sunday.

Netanyahu insisted, "This is the largest investment ever made in the state of Israel!"

He claimed that the document demonstrated robustness of Israel's free market and high-tech industry.

The accord, the prime minister continued, will create thousands of jobs for citizens of the nation.

source: reuters.com