Ashkelon to Host $1.3 Billion Advanced Tech Park
Translated & summarized from Maariv by baba
Two investment groups are set to build a NIS 5 billion ($1.3 billion) advanced technology park in Ashkelon, Israel. The park will feature chip factories, a research center, and a startup incubator, with construction expected to start within two years. The project aims to enhance Israel's technological and economic independence, particularly in response to the October 7th events.
The story in 5 lines · by baba
- A NIS 5 billion ($1.3 billion) advanced technology park is planned for Ashkelon, Israel.
- The park will include chip factories, a research center, and a startup incubator.
- Nadav B. Logistics and Awz Group are leading the joint investment.
- Construction is expected to commence within two years.
- The project aims to bolster Israel's technological and economic independence.
Two investment groups have signed an agreement to establish an advanced technology park in Ashkelon's northern industrial zone, near the train station and the Ir Ha'ayin neighborhood. The project, with an estimated total investment of NIS 5 billion (approximately $1.3 billion), will include chip factories, a research center, and a startup incubator.
Nadav B. Logistics, led by Nadav Belel, will invest approximately NIS 1.5 billion in jointly purchasing land and constructing industrial buildings and infrastructure. Awz Group, led by founder and CEO Yaron Ashkenazi, plans to invest an additional NIS 3.5 billion in chip technologies and factory equipment. Initially, the groups will jointly acquire rights to about 67 dunams (16.5 acres) from the Israel Land Authority, with a potential expansion to 113 dunams (28 acres).
The planned park will feature facilities for chip manufacturing, including clean rooms, designed for long-term lease to Israeli and international companies in defense and civilian industries. Awz Group stated that several chip factories, known as FABs, will be built in collaboration with foreign strategic partners. These factories will focus on Compound technology chips, used in communications, photonics, artificial intelligence, quantum computing, space, and defense applications, aiming to overcome limitations of existing silicon chips.
Beyond manufacturing, the project includes an academic research institute focused on deep-tech and training skilled personnel, in partnership with global industry and academic institutions. Awz Group will also operate an innovation incubator for advanced technology startups, offering them access to the chip factory production lines for testing and development.
The project's genesis is linked to the October 7th events, with Awz Group viewing it as a strategic national response to bolster Israel's security, technological, and economic independence. The plan emphasizes collaboration with Israeli and international defense and civilian companies to address dependencies on global supply chains. Construction is slated to begin within two years, following land acquisition and detailed planning.
Mentioned
