Thursday, December 8, 2022

Intel expands Israeli factory: received about 185 million USD in support funds


Izaan Zubair
Technology writer @ WNObserver

Intel has suffered a severe supply crisis in the past six months and the processor and even the chipset have been out of stock for a large area, resulting in tight market conditions and giving opponents a lot of opportunities. Intel executives even said that issue will not be completely resolved until the end of next year.

In fact, Intel has been taking various measures, such as increasing capital expenditures to expand production capacity. The Fab 42 plant in Arizona has made good progress and recently announced plans to expand production facilities in Oregon, Ireland and Israel.

But increasing production costs a lot of money, and Intel is trying to save money.

According to foreign media reports, for the determination of Intel’s planned $5 billion expansion, the Knesset has approved the support of 700 million new shekels, which is about 1.276 billion yuan (about 185 million US dollars).

According to the data, Intel is one of Israel’s largest employers and exporters, and many of its new technologies are developed (such as the well-known Core architecture). Earlier this year, the company submitted plans to upgrade its Kiryat Gat manufacturing facility in southern Israel.

According to Israeli estimates, in addition to the $5 billion investment, Intel will add 250 new employees and spend 2.1 billion new shekels in local procurement.

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