Intel will open another overseas CPU plant in Kiryat Gat, Israel. Construction is set to begin immediately on Fab 28 which will produce Intel’s new 45 nanometer technology processors. The plant will cost $3.5 billion.

The plant will have 200,000 square feet of clean room space and provide more than 2,000 Intel jobs. In a common practice, the government has given tax and other financial incentives to Intel for building the plant.