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Intel is suspending a huge investment.  It’s about $15 billion.  There is a statement

Intel is suspending a huge investment. It’s about $15 billion. There is a statement

Intel is suspending a huge investment.  It’s about  billion.  There is a statement

The American IT giant announced that it was suspending the expansion of its semiconductor factory in Kiryat Gat, Israel. The investment is worth USD 15 billion. Intel issued a statement on this matter.

Intel, which was supposed to pump an additional $15 billion into the chip factory in Kiryat Gat, unexpectedly suspends the expansion of the large project – reports. The American giant emphasizes that this has nothing to do with the ongoing war between Israel and Hamas.

Intel suspends investment in Israel. The company issued a statement

Last December, Intel announced that it would expand its semiconductor factory in Kiryat Gat in the south of the country, increasing the investment amount from $10 billion to $25 billion. After such an announcement, the American IT giant was to receive a subsidy from the Israeli government in the amount of $3.2 billion. Now the company has changed its plans and issued a statement.

“Israel continues to be one of our key global manufacturing and R&D centers, and we remain fully committed to the region,” Intel said, adding that “managing large-scale projects, especially in our industry, often involves adapting to changing conditions, and decisions are made based on business conditions, market dynamics and responsible capital management.

Intel is a leading employer in the Israeli technology industry

The expanded Kiryat Gat factory was to be opened by 2028 and operate at least until 2035. Intel reported in December that related work had already started and a significant part of the buildings had been completed. For Intel, Israel is the third largest country in terms of assets, after the United States and Ireland. In 2010, the American giant became the leading employer in the Israeli technology sector in 2010.

The semiconductor giant has been present in Israel for 50 years. It employs almost 12 thousand. employees in three research and development centers: in Haifa, Petah Tikva and Jerusalem, as well as in the production plant in Kiryat Gat. Approximately 42,000 people work indirectly for Intel in Israel. people. Let us remind you that , near Wrocław. In June last year, the PiS government signed a contract with an American company to build a semiconductor gigafactory. According to the assumptions, the investment is to be worth almost PLN 20 billion, and of this amount, Poland is to transfer PLN 6 billion to Intel as public aid. The plant would ultimately employ 6,000. people (initially 2 thousand), mainly Poles.

Source: Gazeta

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