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The state will assist in the construction of a new aerospace industry plant in Ofakim and will finance about one-fifth of its construction costs.
The director general of the Investment Department at the Ministry of Economy and Industry has approved an investment of more than NIS 40 million to build the plant, which will begin operations in the coming months. The plant is a subsidiary of the Palestinian Authority’s Elta unit and is therefore eligible for government grants.
It is the first factory to be built in the Gaza periphery since October 7, with the aid aimed at boosting skilled jobs in the southern city.
The plant will initially employ a few dozen workers, later increasing to hundreds, and after sustained growth in recent years, will produce printed circuits for all sectors of the aerospace industry. In the first quarter of 2024, the company had sales of $1.43 billion, up 12%, net profit of $135 million (+48%), and undelivered orders jumped to $19.1 billion.
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