Jun 11, 2024 21:00:00

Intel cancels $40 billion new factory plan in Israel

Intel has a large R&D and manufacturing facility in Israel,

and plans to build a new $25 billion factory in the southern city of Kiryat Gat have been put on hold , but it has now been revealed that Intel has ordered the company to halt construction. Intel cited 'responsible capital management' as the reason for the halt.

N12 - The English translation of the word 'sin' in the English translation
https://www.mako.co.il/news-money/2024_q2/Article-78566163f330091026.htm

I am the first to write a short story for you |

https://www.calcalist.co.il/calcalistech/article/rjuh4h4rc

Intel pauses work on $25B Israel fab • The Register
https://www.theregister.com/2024/06/10/intel_israeli_fab/

Intel's ties with Israel are deep, celebrating their 50th anniversary in 2024, and the company has development and manufacturing facilities in Jerusalem, Haifa, Petah Tikva, and Kiryat Gat.

Intel in Israel
https://www.intel.com/content/www/us/en/corporate-responsibility/intel-in-israel.html

Plans have been underway to build a second factory near the existing facility in Kiryat Gat starting in 2023 with an investment of approximately $25 billion.

Intel agrees to $3.5 trillion deal to build new wafer fab in Israel, to be operational by 2027 - GIGAZINE

Regarding the cancellation of the fab construction plans, Intel commented, 'Israel remains one of our primary manufacturing and R&D locations and we are fully committed to the region. However, the scope and pace of our manufacturing expansion is highly dependent on a variety of factors. Managing large-scale projects, particularly in our industry, can require adapting to changing timelines. Our decision is based on business conditions, market dynamics and responsible capital management.'

There was no mention of whether there were plans to resume the canceled project.

Intel's cancellation of its Israeli facility follows a planned high-tech research and development center in Haifa.

In order to establish itself as a leader in the semiconductor manufacturing industry, Intel has decided to invest more than $100 billion (about 15.7 trillion yen) by 2030, and will expand its factories in Arizona, New Mexico, Oregon, and Ireland, as well as build new factories in Ohio and Germany.