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March 20, 1996

ISRAEL GETS COLD FEET OVER INTEL DEAL

By CBR Staff Writer

The Israeli government, which offered Intel Corp 38% of the cost of building a $1,600m chip manufacturing plant, has begun to have second thoughts, Reuter reports from Jerusalem. Government sources that asked not to be named said that a study by the Industry & Trade Ministry’s Investment Center showed that Israel could lose a lot more than it would gain. It would put up $600m over 10 years, and now wants Intel buy more local products, strengthen its ties with local industry through research and development projects, and find ways to leave more of its profits behind – for example by paying more taxes.

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