Jun 12, 2024 13:11 UTC
  • New signs of Intel's loss of hope in Israel's ambiguous situation

Pars Today - The American company Intel has halted its plan to build a $25 billion factory in the Occupied Territories.

The Israeli website Calcalist revealed in a report that Intel has informed its business partners in Israel that it has canceled the signed contracts for the transfer of necessary equipment for the development of its new factory in Kiryat Gat.

According to Pars Today, under the agreement between Intel and Israel, the company was supposed to receive 3.2 billion shekels in incentives from Israel and in return, commit to purchasing 60 billion shekels worth of products and services from its Israeli partners over time.

Informed sources told Calcalist that Intel has transferred parts of its activities out of Israel, and even some high-ranking officials have been transferred from Israel to Intel's offices in Ohio.

Intel officials also told the media that although their activities in Israel will continue, the extent of their development in different countries depends on variable parameters and factors, which often lead to changes in their scheduling tables.

The American chipmaker has neither confirmed nor denied the Calcalist website's report.

Key phrases: Gaza war and Israel, consequences of the attack on Gaza, US support for Israel, what is Israel's situation like?