FILED UNDER SOMETHINGISRAELI >> Technology
Intel, the world's biggest computer chip maker is to open up a new factory in Israel to build its new high-tech chips.
The new 300-millimeter wafer fabrication facility will be based in Kiryat Gat and is part of a massive $3.5bn project that will be completed in 2008. Over the next few years, the company plans to create more than 2,000 new jobs at the new location. A financial grant of up to $525m to locate to Kiryat Gan has been provided by the Israeli government which in turn will get a share of profits made.
"This is our largest investment in Israel to date, and as a one-off investment one of the largest investments Intel has made worldwide" said Intel executive Tom Franz.
Intel has a strong connection with Israel over the years. The popular Pentium chip which powers home and business computers around the world was developed there.
It currently employs over 6000 people and Israel was home to its first development centre outside the United States.
"Intel is committed to widening its lead in advanced semiconductor manufacturing,” said Paul Otellini, Intel president and CEO. “Our manufacturing network is a strategic asset of unmatched scope and scale that gives Intel the ability to provide customers with leading-edge products in high volume. Today’s announcement of a second 45nm high volume factory reaffirms that Intel platforms will contain the most advanced and innovative technology in the world for years to come.”
For more information, www.Intel.com