U.S. chipmaker Intel Corp will spend $25 billion on a new factory in Israel, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country.
The factory in Kiryat Gat is due to open in 2027, to operate through 2035 at least and to employ thousands of people, Israel’s Finance Ministry said. Under the deal Intel will pay a 7.5 percent tax rate, up from the current 5 percent, the ministry added.
