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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: GVTucker who wrote (113136)	10/11/2000 10:39:12 AM
From: Road Walker	Respond to of 186894

Intel seeks Israel govt answer on plant aid TEL AVIV, Oct 11 (Reuters) - Intel Corp said on Wednesday the Israeli government's delay in deciding on whether to subsidise a $2-$3 billion chip plant the company wants to build could result in the plant being constructed elsewhere. ``We need an answer. If we don't know what the answer is we will go elsewhere (abroad),'' Stephen Gray, treasury manager of Intel Capital in Israel, told Reuters. Israel's investment incentive law provides different types of aid to encourage capital investment, including both direct grants as well as tax breaks. Gray did not specify what type of aid Intel was seeking. ``The government has promised to get back with an answer by the end of this month,'' he said. Intel is one of the biggest foreign investors in Israel with a $1.6 billion microchip plant in the country's south. On Tuesday Tower Semiconductor (NasdaqNM:TSEM - news) said it would go ahead with plans to build a $1.5 billion facility in Israel after the government agreed to fund $250 million of the project.