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Intel to invest ‘unprecedented’ $25 billion in chip manufacturing plant in Israel

US semiconductor giant Intel Corp. has inked an agreement in principle with the Israeli government to build a chip manufacturing plant in Kiryat Gat at an investment of $25 billion.

Prime Minister Benjamin Netanyahu said the Intel investment was “unprecedented” in Israel and would go toward building a chip manufacturing plant that will use the most advanced technology in the world. In 2019, Intel already held talks for an investment of around $10 billion into building the Kiryat Gat chip plant.

Read more: The Times of Israel