Intel set to build $25B plant in Israel - reports
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Intel (NASDAQ:INTC) has agreed to invest $25 billion to build a manufacturing plant in southern Israel.
The sum marks the "largest ever investment of an international company in Israel," Prime Minister Benjamin Netanyahu said, according to media reports.
The preliminary deal was announced on Sunday by Israel's finance minister. Intel Israel confirmed its intention to expand manufacturing in Israel in a statement to Bloomberg, though it didn't confirm the exact terms of the deal. 
The $25 billion figure is said to include a previous $10 billion investment Intel announced in 2021, according to Bloomberg, which cited a person familiar with the matter.
The new plant will be located in Kiryat Gat, south of Tel Aviv, and is expected to start operations by 2027. The project is expected to add thousands of jobs in Israel for Intel (INTC), which already employs 12,000 workers in the country.
The Israel news comes after a report on Thursday that Intel was close to a deal with the German government to receive up to $10.8 billion in subsidies for a new manufacturing plant in the country.
Intel (INTC) on Friday said it
plans to invest up to $4.6 billion to set up a semiconductor assembly and test facility near WrocÅaw, Poland, to help the EU work toward its goal of a more resilient semiconductor supply chain.
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