May 15, 2018 / 9:16 AM / a year ago

Israeli minister says Intel board approves Israel expansion

JERUSALEM, May 15 (Reuters) - Israeli Economy Minister Eli Cohen said on Tuesday he was told by U.S. chipmaker Intel Corp that the company’s board has approved a plan to expand its operations in Israel.

Cohen wrote on Twitter that he was told by the head of Intel in Israel that the company’s board has decided “to expand its factory in Israel.”

Cohen had said in February that Intel plans to invest $5 billion to expand production at its Kiryat Gat plant in southern Israel. (Reporting by Ari Rabinovitch)

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