Intel Building New $3.5 Billion Chip Plant In Israel

Israel - The world's largest chipmaker Intel started work on a massive 3.5 billion-dollar semiconductor plant in southern Israel, its largest-ever investment in that land.

Some 3.5 billion dollars will be invested in building the facilty, while another 1.5 billion dollars will go toward upgrading an adjoining facility.

The 200,000-square-foot (19,000-square-metre) manufacturing facility, due to be ready for operation in mid-2008, is expected to create 2,000 jobs in the local economy, increasing the size of Intel's 6,000-strong Israeli workforce by a third.