# Intel plans to cease construction on a $25 billion plant in Israel, according to a news website

> Intel Corporation is reportedly cancelling its $25 billion factory project in Israel, as per Israeli financial news site Calcalist. While Intel neither confirms nor denies the report, it stresses the need to adapt to ch…

Published: 2024-06-25 · Desk: News · Source: Yahoo Finance

Intel Corporation is reportedly cancelling its $25 billion factory project in Israel, as per Israeli financial news site Calcalist. While Intel neither confirms nor denies the report, it stresses the need to adapt to changing project timelines without directly addressing the Israel project. Intel emphasizes its commitment to Israel as a key manufacturing and R&D site, citing business conditions and market dynamics as factors influencing decisions. The Israeli government had previously offered a $3.2 billion grant for the project. Intel operates four sites in Israel, including the Kiryat Gat plant, which produces 10-nanometer chips, employing around 12,000 people.

Original reporting: https://finance.yahoo.com/news/chipmaker-intel-halt-25-billion-191640654.html
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