Chipmaker Intel to halt $25-billion Israel plant, news website says
) is halting plans for a $25-billion factory in Israel, Israeli financial news website Calcalist said on Monday, in a report that the chipmaker did not confirm or deny.
"Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to the region," Intel said in a statement. Israel's government in December agreed to give Intel a $3.2-billion grant to build the $25-billion chip plant in southern Israel. Intel operates four development and production sites in Israel, including its manufacturing plant in Kiryat Gat called Fab 28. The factory produces Intel 7 technology, or 10-nanometer chips.Intel employs nearly 12,000 people in Israel.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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