#BDS: Intel to invest $2.7 billion in Israel chip plant

"(Reuters) - U.S. chipmaker Intel will invest $2.7 billion over the next two years upgrading its chip plant in southern Israel to produce 22 nanometer technology.

The amount includes a 740 million shekel ($210 million) grant recently approved by the Israeli government.

"We are already in preparation for hiring," Maxine Fassberg, general manager of Intel Israel, told a news conference. "We are scheduled to start production in December."

Fassberg said the Israeli plant in Kiryat Gat will be Intel's second worldwide to produce the smaller 22 nanometer chips."

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