Intel Plans to Spend $550 Million Upgrading Chip Manufacturing Plant in Israel

[[Coi] Mr.CLuBBeR]

Intel's making a major investment into Fab 28 in Kyryat Gat

Intel, the world's largest semiconductor company, will invest a further $550 million into its Fab 28 facility in Kiryat Gat, one of the most advanced chip manufacturing plants on the planet. The investment is the result of a reciprocal purchasing agreement Intel inked with the Israeli Ministry of Economy. This latest deal brings Intel's total investments in Israel to over $6 billion since 2006.
"This new reciprocal purchasing relationship is expected to have a significant economic impact on hundreds of small and medium-sized suppliers in Israel," said Ziva Eger, newly appointed Director of the Division for Foreign Investments and Industrial Cooperation at the Israeli Ministry of Economy. "A reciprocal purchasing agreement is a platform leveraging public-sector spending for the benefit of the Israeli economy, both to cultivate local suppliers to compete both locally and internationally, and to brand Israel as an attractive destination for foreign investments."
The new deal runs through 2020 and its the fourth of its kind, according to Israel21c.org. It's also expected to created to thousands of jobs while bolstering Israel's position as a world-leader in technology.
Fab 28 is a high-volume manufacturing plant. It began the production of wafers on a 22nm process technology in 2012 and is expected to make next-generation 10nm chips as part of this and past investments. If everything goes perfectly, parts built on a 10nm process technology (codenamed Cannonlake) could see the light of day in 2016, followed by 7nm CPUs in 2018.
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