Intel to invest $25 bn in new Israel plant: Government

Jerusalem: US chip giant Intel will spend $25 billion on a new plant in Israel, officials said Sunday, with Prime Minister Benjamin Netanyahu calling it the country’s single largest foreign investment.

The “agreement in principle” would see the semiconductor firm build the facility in southern city Kiryat Gat that would open by 2027 and operate at least until 2035, Israel’s finance ministry said.