Treasury finalizing two-billion shekel grant for Intel

The Finance Ministry is drafting a "permission to commit" NIS 2 billion support for the construction of an Intel fab in Israel.

The permission will be submitted to the Industry and Trade Ministry's Investment Center next week. The ministry can then approve the investment subsidy for the global chipmaker's new $4 billion plant in Kiryat Gat, say sources close to the talks.

The state may provide up to 12.5% of $3 billion for Intel's plant, spread throughout the construction period.

Intel has not finalized a decision whether to build the fab in Israel. The Investment Center's letter of approval is expected to be a key factor in the company's decision.

The Investment Center administration is supposed to approve the Intel application within two weeks, based on the "permission to commit" submitted by the treasury.

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