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Finance Minister Announces $100,000,000 “master Plan”

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A twenty year “master plan” for the development of Israel’s chemical industry was announced here today by Finance Minister Levi Eshkol. The plan will cost about $100,000,000, and a large part of this sum will have to be derived from foreign investments.

“The Israel Government,” Mr. Eshkol said, “looks toward the American people to show their faith in the development of our country by making available new sums through the purchase of Israel Bonds.” He emphasized that private investors are also being sought to help finance the “master plan.”

The construction of a calcinations plant, to raise the phosphate content of the ores, will be one of the first steps, he reported. Other processing plants will be built later near Kurnub, which lies on the road from Beersheba to the phosphate mines. Also contemplated are the expansion of the polish works at the Dead Sea, the installation of a smelter at King Solomon’s copper mines near Elath, and the construction of a railroad network linking Beersheba and Kurnub with Israel’s coastal cities.

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