FTXL - Chipmaker Intel Pauses Construction Of $25B Chip Plant In Israel: Report | Benzinga
Intel Corp (NASDAQ:INTC) has reportedly put on hold its ambitious plans to construct a $25-billion semiconductor facility in Israel.
Intel highlighted the need to adapt large-scale endeavors to changing timelines, without directly referring to the project, according to a report from Reuters.
“Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to the region,” the report cited Intel.
The company elaborated on the challenges of managing significant projects, especially in the semiconductor industry, which requires flexibility in planning due to fluctuating business climates and market dynamics.
“Our decisions are based on business conditions, market dynamics and responsible capital ...