Intel To Halt Plans For $25 Billion Factory In Israel? Here's What We Know So Far

Earlier in December, the Israeli government agreed to provide Intel with a $3.2-billion grant to support the construction of a $25-billion chip plant in southern Israel. Intel had stated that the proposed factory at its Kiryat Gat site, where it already operates a chip plant, was an "important part of Intel’s efforts to foster a more resilient global supply chain", along with its investments in Europe and the United States.
Intel Corp

Intel employs nearly 12,000 people in Israel.

Photo : Twitter
Jerusalem: Intel Corp is halting plans for a $25-billion factory in Israel, Reuters reported citing a report by Israeli financial news website Calcalist on Monday. The chipmaker has neither confirmed nor denied the report. When asked about the report, the US company mentioned the need for adapting large projects to evolving timelines but did not specifically address the Israeli factory project.
In a statement, the company said, “Israel continues to be one of our key global manufacturing and R&D sites, and we remain committed to the region. As mentioned previously, the scope and rate of expansion of Intel's production at the company's sites around the world depend on a number of changing factors.”
Further, it added, “Managing large-scale projects, especially in our industry, often involves adapting to changing timelines. Our decisions are based on business conditions, market dynamics and responsible capital management.”
Earlier in December, the Israeli government agreed to provide Intel with a $3.2-billion grant to support the construction of a $25-billion chip plant in southern Israel. Intel had stated that the proposed factory at its Kiryat Gat site, where it already operates a chip plant, was an "important part of Intel’s efforts to foster a more resilient global supply chain", along with its investments in Europe and the United States.
Intel operates four development and production sites in Israel, including its Kiryat Gat manufacturing plant, Fab 28, which produces Intel 7 technology, or 10-nanometer chips. The planned Fab 38 plant was expected to open in 2028 and operate through 2035.
Intel employs nearly 12,000 people in Israel.
(With inputs from Reuters)
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