Intel plans $5 billion investment in Israel by 2020: minister

[February 21, 2018]  JERUSALEM (Reuters) - Chipmaker Intel Corp plans to invest $5 billion to expand production at its Kiryat Gat plant in Israel in the next three years, Israeli Economy Minister Eli Cohen said on Wednesday.
 

Intel processors are displayed at a store in Seoul June 21, 2012. REUTERS/Choi Dae-woong

Cohen and other ministry officials earlier in the day met with Intel executives.

He said Intel would start expanding its plant in Israel this year and the investment would be completed by 2020.

A spokesman for Intel in Israel declined to comment.

(Reporting by Steven Scheer; Editing by Tova Cohen)

[© 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.