Fab 28

Intel and two Israeli ministries this week announced that the chip giant plans to invest $5 billion in its Kiryat Gat fab complex – Fab 28 – through 2020. Under the plan, Intel is expected to buy various products from local suppliers and hire additional personnel. In return, Israel will provide the processor maker a tax rebate and a government grant. Furthermore, Intel will receive another grant if it upgrades its manufacturing in Israel further. Under the terms of the investment plan, Intel will invest $5 billion (NIS 18 billion) in its Kiryat Gat ventures until 2020. The chip giant is expected to buy $838 million (NIS 3 billion) worth of local goods and add 250 people to its workforce, reports The Times of Israel...