Indian hi-tech giant HCL has signed a five-year rental contract on a 400-square-meter project in the 26,000-square meter Yokneam hi-tech park, near Haifa. The contract includes an option for another five years.

Yokneam is trying to establish itself as the "Silicone Valley" of the Galilee. The town's industrial park is home to a number of Israeli and international firms. Half of the 10,000 people who work in the park live in the town.