Intel is planning to further expand its manufacturing capacity in Israel through a new chip factory.
Intel is busy expanding its chip production capacity outside the Asian region. This as part of its recent IDM 2.0 strategy to ramp up production capacity elsewhere in the world. Within this strategy fits the recently announced investment, Bloomberg writes.
Value of $25 billion
The investment in building a chip factory in the Israeli city of Kiryat Gat has a value of about $25 billion (€22.9 billion) says Prime Minister Benjamin Netanyahu of Israel. This includes a previously announced $10 billion investment by Intel from 2021.
In addition, Intel had previously announced its intention to acquire Israeli chip maker Tower Semiconductor for $5.4 billion.
Also new Polish factory
Intel is strongly ramping up its production capacity in other countries. Just last week, the chip giant announced plans to build a chip factory in Wroclaw, Poland, for 4.2 billion euros.