Intel submits business plans for new Kiryat Gat fab

Intel Photo: Shutterstock

The US chipmaker has not disclosed financial details about its latest planned investment in Israel.

US chipmaker Intel has announced that it will submit a business plan to the Israeli government for continued investment in the company’s Kiryat Gat manufacturing site. This follows Intel’s previous announcement that the company is in the early planning phase for manufacturing site expansions in Oregon, Ireland and Israel.

Intel added, "Details of the project, including schedules, costs and technologies are not being disclosed at this time"

Last night Israel's Minister of Finance Moshe Kahlon tweeted that Intel is investing NIS 40 billion ($11 billion) in the new plant..

Intel SVP and general manager manufacturing and operations Ann Kelleher said in December, “With the biggest market opportunity in Intel’s history ahead of us, we will take the necessary steps to prepare our global manufacturing network for flexibility and responsiveness to changes in demand."

Intel VP, General Manager of Intel’s manufacturing plant in Kiryat Gat Daniel Benatar said, “The business plan that will be submitted continues to prepare for Intel’s future in Israel and Kiryat Gat and continues to demonstrate the strong performance of Intel Israel. We continue to lead in terms of corporate economic and social investment in Israel."

Intel VP, Intel Israel GM Yaniv Gary said “Our continued confidence in Intel’s future and excellent partnership with the State of Israel is at the foundation of the business plan we will submit. This plan when it comes to fruition is expected to yield great economic and social value for Israel in general and to Kiryat Gat in particular.”

Intel has 11,700 employees in Israel as well as 1,100 employees at Mobileye, an Intel company. Some 60% of the employees work in development and the balance in manufacturing. In all, Intel says it is responsible to 52,000 direct and indirect positions in Israel. Intel has announced that its exports from Israel totaled $4 billion in 2018, representing an increase of approx. $300 million over last year. In 2018, Intel also made $1.7 billion in procurements in Israel.

Published by Globes, Israel business news - en.globes.co.il - on January 29, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Intel Photo: Shutterstock
Intel Photo: Shutterstock
Amiram Barkat, Yuval Azulai, Tal Shahaf and Uri Berkovitz
 
 
 
 
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