Intel Corp. will invest 40 billion ILS ($ 10.9 billion) in a new chip factory in Israel, the Israeli finance minister, the latest multibillion-dollar investment from the country by the US giant, said on Monday. -conductors.

"Intel's global leadership has informed us of its decision to invest an additional ISL 40 billion in Israel, an unprecedented move that is expected to create thousands of jobs in the south (of Israel)," said Twitter. Minister of Finance of the country, Moshe Kahlon.

This news follows Intel's commitment last May to invest around ISL 18 billion (the US $ 5 billion) in upgrading its existing plant in Kiryat Gat, southern Israel, between 2018 and 2020.

In that agreement, Intel had promised to spend 3 billion ISL pounds for local suppliers.

Intel is planning to build a new plant in Kiryat Gat, the Globes news website said on Monday.

The deal with Israel could include an exemption from the procurement requirement with the government, and Intel is already preparing the physical infrastructure needed to build the Kiryat Gat plant, the report said.

Intel did not respond to Reuters' request for comment after Kahlon posted on Twitter.

Intel, based in Santa Clara, California, is one of Israel's largest employers and exporters, where many of its new technologies are being developed.

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