Guy Yamin
The Haifa Local Planning and Building Committee has approved plans to expand the Matam High Tech Industrial Park in the city. Intel (Nasdaq:INTC), General Electric (NYSE:GE), Zoran Corporation (Nasdaq: ZRAN) and Bayside Land Corp. Ltd. (Gav Yam) (TASE:BYSD1) will be allowed to build an additional 60,000 sq.m. of buildings for $50 million. Construction is projected to take three years.

Matam, jointly owned by Bayside and the Haifa Economic Corporation, is Israel’s oldest and largest high-tech park. The 270-dunam (67.5-acre) park has 185,000 sq.m. of built-up space, occupied by about 50 companies, including IBM (NYSE:IBM), Microsoft (Nasdaq:MSFT), Hewlett-Packard (NYSE:HPQ), Royal Philips Electronics (NYSE: PHG; AEX: PHI), Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) Zim Integrated Shipping Services Ltd., and NetManage Inc. (Nasdaq: NETM), employing 5,000 people.

Published by Globes [online], Israel business news - www.globes.co.il - on August 14, 2005

Last Updated: 19-08-2005