Intel Corp., a Silicon Valley-based semiconductor and microprocessor maker, will set up a $ 600 million R&D center in Israel.

Report informs, citing foreign media, that only $ 200 million will be spent on the Mega Chip Design Center to be built in Haifa, Israel.

“The $ 400 million will be used to turn Mobileye, a subsidiary of the company that develops driverless cars and driver assistance systems in Jerusalem, into an R&D center. The remaining $ 200 million will be spent on a ‘mega chip design center’ in Haifa,” said Pat Gelsinger, CEO of Intel.