Israeli Ministers welcome Intel’s plan to upgrade its Kiryat Gat plant, which involves a reciprocal investment in the Israeli economy.
By Yishai Karov
Major hi-tech and computing company Intel is investing 5-6 billion dollars to upgrade its plant in Kiryat Gat, the company announced Wednesday.
The investment plan includes a deal between the company and the state, by which Intel will receive a 750 million shekel ($216,706,500) construction grant from the government in return for its commitment to invest 5% of the investment money into the Israeli economy.
Prime Minister Benjamin Netanyahu welcomed the investment plan Wednesday night.
“This investment plan is the result of the process we’ve been working on for several years,” the Prime Minister stated. Continue Reading »
Israeli New Shekel Exchange Rate