JERUSALEM, June 18 (Xinhua) -- The U.S. computer chip giant Intel will set up a new factory in Israel at an investment of 25 billion U.S. dollars, the highest investment by a foreign company in the country, the Israeli Finance Ministry said in a statement on Sunday.
The plant will be established in the southern city of Kiryat Gat and is expected to employ thousands of workers at wages "higher than the average in the machining industry," the statement added.
Intel is expected to receive a grant in accordance with the Israeli Encouragement of Capital Investment Law, at 12.8 percent of the investment, it added.
Currently, Intel employs a total of about 12,000 people in Israel in development centers across the country. ■
