Haifa (Mar. 21)
Five and a half million dollars will be invested in heavy chemical industry in Palestine, mainly for the production of sulphate products, the Jewish Telegraphic Agency learned today. The companies will be registered in Haifa.
One of the companies making this investment will have a capital of five million dollars, in which the Imperial Chemical Industries of England will hold sixty-five per cent of the stock. The remaining thirty-five per cent will be held by Palestinian and British Jews.
The other company, which is investing a capital of half a million dollars, will be a subsidiary in which the Imperial Chemical Industries will have only thirty-five per cent of the holdings, while the remainder will be placed in the hands of Palestinian and English individual Jews.