Israel gains another Intel fab

INTEL will build a fabrication plant in Israel to replace its out of date Fab 8.

According to Globes, Intel struck a deal with the Knesset Finance subcommittee responsible, the Israeli taxpeople, and the inward investment body.

Intel will pick up $150 million in tax advantages and also gets over half a billion in grants from inward investment authorities.

The chip giant will soon finish fab 28 in Kiryat Gat, Globes said, which will employ over 2,000 people.