ISTANBUL (May. 10)
The Frishman Construction Company of Haifa signed today a contract to build two hotels and a bungalow development in three Turkish resort towns. The contract came to the equivalent of $1,000,000. Each hotel will have 36 rooms and there will be 125 rooms in the bungalow project.
The company, meanwhile, has established a local branch in Turkey, with an initial capitalization of the equivalent of $350,000. It is understood that the latest contract was offered to the company on instructions from Premier Adnan Menderes.