A group led by Sweden's Viaeuropa was chosen to build the network along with state-run utility Israel Electric Corp using Cisco's technology.
Cisco said the project, which will cost billions of shekels, is expected to be completed in 7-10 years but Chambers said he was pushing for full deployment in 18-36 months. Cisco, he said, is financing $140 million of the project.
Global tech spending remains positive, Chamber said, with the United States and most of Europe showing improvement in recent quarters. Emerging markets, particularly India, have turned the corner.
"If the U.S. and China don't lead us out of this slowdown, no matter how effective we are in other parts of the world, you won't see the global economy coming around," he said.
Chambers, though, said it would continue to invest mostly outside of the United States due to the U.S.'s high taxes.
(Reporting by Steven Scheer)
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