Intel builds $25 billion factory in Israel as largest foreign investment

JERUSALEM (Reuters) – Intel Corp will build a new $25 billion factory in Israel, Prime Minister Benjamin Netanyahu said on Sunday, calling it the biggest international investment ever in the country.

The Kiryat Gat factory is expected to open in 2027 and employ thousands of people, Israel’s Finance Ministry said, adding that Intel will pay a 7.5% tax rate under the deal, up from 5% currently.

There was no immediate comment from Intel in Israel.

(Writing by Dan Williams; Editing by James Mackenzie)

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