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US computer system chip huge Intel is to invest close to $6 billion in updating its Israeli manufacturing centers, Israeli Economy Minister Naftali Bennett stated on Thursday.

‘Intel decided to set up its most sophisticated manufacturing line in Israel in the face of difficult competitors,’ Bennett mentioned to public radio.

‘It’s an investment of billions of shekels … in Israeli hi-tech,’ he included.

Facebook comments by Bennett, which were reposted by Intel Israel on its website, put the figure at 20 billion shekels ($5.8 billion, 4.1 billion euros).

‘Twenty billion shekels will be bought Israel, one of the most significant– if not the biggest– financial investments in the nation’s history,’ he composed, stating the plant would end up being the ‘most advanced’ in the world.

Intel itself made no public statement on the financial investment.

‘This is a vote of self-confidence in the Israeli economy and in Israeli brains,’ Finance Minister Yair Lapid composed on his Facebook page.

He said that thousands of new tasks would be straight created and 10s of thousands indirectly.

Intel’s Israel Development Centre, opened in 1974 in the northern port city of Haifa, was the business’s very first design and development center outside the United States.

It’s facilities in Jerusalem, the central town of Petah Tikvah and in Yakum, north of Tel Aviv, in addition to a huge factory in Kiryat Gat in the south.

The company website states it currently has 9,885 workers in Israel.

Copyright (2014) AFP. All rights booked.

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