TECH - Intel Scores Big With $3.2B Government Grant For $25B Israel Chip Plant: Report | Benzinga
Intel Corporation (NASDAQ: INTC) will reportedly get a $3.2 billion grant from Israel's government for the new $25 billion chip plant it plans to build in the southern part of the country.
Apart from receiving a grant equivalent to 12.8% of the overall investment, the chipmaker has also pledged to procure goods and services from Israeli suppliers totaling 60 billion shekels ($16.6 billion) over the next ten years, per a news report by Reuters.
The new facility is scheduled to commence operations in 2027 and continue functioning until 2035.
In June, Prime Minister Benjamin Netanyahu announced that ...