Intel Targets Israeli Expansion in $10B Upgrade

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July 3 (Bloomberg) -- Bloomberg Middle East Editor Elliott Gotkine reports that Intel is said to be in talks with the Israeli government to invest $3 billion in upgrading one of its plants in the country and another $7 billion on building another. He speaks on Bloomberg Television's "The Pulse."

Big tech companies have got major r&d centers whether you're talking about google or apple or microsoft.

Intel is not only the biggest foreign investor in israel, it also is the biggest foreign employer in this country as well , $10 billion investment if it proves to be the case, would effectively double their investment in israel.

It already has about $10 million invested here.

It would mean more jobs for israel as well.

Certainly a lot of excitement generated by this report in the biggest daily newspaper here.

I should say that came from an interview with the new head of the economy ministries head of investment.

When we spoke with intel, they declined to comment.

We are waiting for details, effectively, we will see what happens all ultimately.

This company artie has a big footprint in the country.

This familiar territory for intel.

Israel is hoping this will mean the manufacture of the next generation of chips.

They will be 10 nanometers in length.

That is 10 billionth of a meter in length.

These are tiny chips to help power the next generation of technology.

That is what israel is hoping that intel will choose to manufacture in this country.

More investment, more jobs, and a key part of israel's both technology oriented and export oriented economy.

Last year, their import and export from israel alone was 4.5 billion dollars, double the previous year.

If this comes to fruition, israel will be extremely happy.

And intel needs a big push into mobile.

This text has been automatically generated. It may not be 100% accurate.

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