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Technology Stocks : Intel Corporation (INTC)

INTC 45.51

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Jan 9 9:30 AM EST

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To: Raymond Thomas who started this subject	8/20/2002 1:52:07 AM
From: Elmer	Read Replies (1) of 186894

In my opinion there is almost no chance Intel will take Israel up on this: haaretzdaily.com Treasury finalizing NIS 2B Intel grant By Ora Coren The Finance Ministry is drafting a "permission to commit" for NIS 2 billion in government support for the construction of an Intel Israel fab. The permission is expected to be submitted to the Industry and Trade Ministry's Investment Center next week and will enable the issuance of an investment approval letter for the chip makers' new $4 billion plant in Kiryat Gat, according to sources close to the talks. The "permission to commit" is the framework for approving future government support for companies investing in Israel. It includes the entire sum to be approved - 12.5 percent of up to $3 billion in Intel's case - although the funding transfers are spread out over the construction period. Intel's global headquarters have not yet decided if the company actually plans to construct the fab in Israel, but the Investment Center's letter of approval will be a key factor in the chip giant's decision. The Investment Center administration is slated to approve the Intel application within two weeks, based on the "permission to commit" submitted by the treasury.

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