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FILE PHOTO: Intel's logo is featured at E3, the world's largest video game industry congress in Los Angeles, California, USA, June 12, 2018. REUTERS / Mike Blake
(Reuters) – Intel Corp. will invest 40 billion shekels ($ 10.9 billion) in a new chip factory in Israel, the Israeli finance minister, the latest multibillion-dollar investment by the US-based giant, said on Monday. -conducteurs.
"Intel 's global leadership has informed us of its decision to invest an additional 40 billion shekels in Israel, an unprecedented move that is expected to create thousands of jobs in the south (d & # 39; Israel, "the country's finance minister, Moshe Kahlon, said on Twitter.
The news follows Intel's commitment last May to invest about NIS 18 billion (US $ 5 billion) in upgrading its existing plant in Kiryat Gat, southern Israel. between 2018 and 2020.
In that agreement, Intel had promised to spend NIS 3 billion for local suppliers.
Intel is planning to build its new plant in Kiryat Gat, Globes' information website said on Monday.
The agreement with Israel could include an exemption from the procurement obligation with the government, and Intel is already preparing the physical infrastructure needed for the construction of the Kiryat Gat plant, a added the report.
Intel has not responded to Reuters' request for comment after Kahlon's Twitter posting.
Intel, based in Santa Clara, California, is one of Israel's largest employers and exporters, where many of its new technologies are being developed.
Reportage of Arjun Panchadar in Bengaluru; Edited by Sai Sachin Ravikumar
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