JERUSALEM, April 30 U.S. chip manufacturer Intel
Corp said on Wednesday it had submitted a business plan
to upgrade a facility in southern Israel.
An Intel statement did not specify any sum but Israeli media
reported the company would invest $6 billion in the Kiryat Gat
company, potentially creating thousands of jobs.
A spokesman reached by Reuters declined to comment on the
Israeli Prime Minister Benjamin Netanyahu said Intel's plan
had been under discussion for several years and welcomed the
decision. Praising Israel as a centre of world technology,
Netanyahu urged other global companies to expand investment in
the country as well.
Intel had said in January it would decide on the location of
a planned new multi-billion dollar semiconductor plant using new
10 nanometre technology.
It said on Wednesday it planned to "upgrade the Kiryat Gat
facility to meet future needs," but that "details of the
project, including schedules, costs and technologies are not
being disclosed at this time."
Intel Israel's exports amounted to $3.8 billion in 2013,
down from $4.6 billion the year before.
In its 40 years in Israel, Intel has invested $10.8 billion
in plants and development centres and received $1.5 billion in
grants. Intel Israel employs nearly 10,000 people.
It received grants totalling 28 percent of its investment
when it built the Kiryat Gat plant, called Fab 28, which started
operating in Israel in 1999.
(Additional reporting by Steven Scheer; Writing by Allyn
Fisher-Ilan; editing by Keiron Henderson)