Intel delays Egyptian chip-plant project
The world's largest computer chip maker, Intel, has decided to delay its plans to establish a computer manufacturing plant near Cairo. According to Al-Hayat daily, the US-based Intel has not yet set a new date for the execution of this project.
The deputy director general of Intel Middle East and Africa related the factory’s postponed launch to the recent developments in the international technology market.
The chipmaker announced last year that it is planning to build a one billion dollar plant in the 6th of October city, near Cairo. Egypt's cabinet granted Intel an approval to construct the production plant in October 2000, agreeing also to allocate land for the project.
Quoting Mohammad Al-Ghamrawi, head of the Egyptian General Authority for Investment and Free Zones (GAFI), Al-Hayat reported that the Egyptian government was studying the possibility of allowing the project to function as a free zone, as well as considering giving the project a tax-free status.
According to Intel’s October estimations, the project could inject $500 million in investment to Egypt and provide as many as 3,000 jobs. — (Albawaba-MEBG)
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