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The Israeli government has agreed to provide $3.2 billion in subsidies to Intel to support its plans to build a new chip factory in southern Israel.
The investment is considered the largest corporate investment in Israeli history. Intel plans to build a new factory in the southern Israeli city of Keyeget, with a total investment of US$25 billion (RM116 billion).
Israel’s Finance Ministry said this is of great significance to the country’s global supply chain. The new factory is expected to open in 2027, creating thousands of jobs.
(Source: enanyang Image source: freepik)
