United States computer chip company Intel is investing $6 billion in upgrading its Israeli production facilities, estimated to be one of the biggest investments ever made in the country.
According to Israeli Economy Minister Naftali Bennett, “Intel chose to set up its most advanced production line in Israel in the face of tough competition.”
Intel Israel has reported the figure to be at 20 billion shekels or approximately $5.8 billion (4.1 billion euros).
Intel currently employs 9,885 people in Israel. That number will jump as it is estimated that this announcement will directly create thousands of new jobs and tens of thousands of jobs indirectly.