Intel has met with Israeli Economic Minister Eli Cohen to discuss the investment yesterday. The plan of this investment is the expansion of Intel's production plant.
The planned expansion completed by 2020 will contribute to chip production of 10 nanometers. Of course this chip is not only getting smaller but also faster.
Initially, the factory made 22 nanometer chips. If the plant is already operating, the results will contribute to the value of Intel's exports in Israel.
The value of exports from Intel in Israel last year increased to US $ 3.6 billion from US $ 3.3 billion in 2016. Intel itself is known to have invested US $ 17 billion in Israel since 1974.
If the offer is accepted by the Israeli government as it did in 2014, Intel will also get incentives for the major investments it makes in that country.
Last year alone, Intel bought automotive developer Mobile Mobile from Israel with a value of US $ 15.3 billion. Intel has already recruited more than 10,000 experts in Israel, of whom 60 percent are based in research and development.