Israeli minister says Intel board approves Israel expansion

[May 15, 2018]  JERUSALEM (Reuters) - Israeli Economy Minister Eli Cohen said on Tuesday he was told by U.S. chipmaker Intel Corp that the company's board has approved a plan to expand its operations in Israel.

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

"The head of Intel Israel just told me of the decision by the board of global Intel to expand its factory in Israel," Cohen wrote on Twitter.

A spokesman for Intel in Israel was not immediately reachable for comment.

Cohen had said in February that Intel planned to invest $5 billion to expand production at its Kiryat Gat plant in southern Israel.

At the time he said that Intel would start expanding the plant this year and planned to complete the work in 2020.

The U.S. semiconductor company has said it has plans to upgrade the facility to 10-nanometer technology from 22-nanometer, making chips that are smaller and faster.

(Reporting by Ari Rabinovitch; editing by Jason Neely)

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