The forthcoming establishment of a $20 million rayon plant in Israel, to be the largest American-financed industry in the Jewish State, was announced here tonight by Israel Rogosin, industrialist and philanthropist. Mr. Rogosin’s announcement was made at a dinner given in his honor by the State of Israel on the occasion of his 70th birthday. The hosts were Israel Ambassador and Mrs. Abba Eban.
At the same time, Mr. Rogosin announced contributions totalling $4 million to a group of research and educational institutions in the United States and Israel, in the form of stock in the rayon plant. The schools are Brandeis University, Jewish Theological Seminary and Yeshiva University, of the U.S., and Hebrew University, Weizmann Institute, Technion, Bar-Dan University, Boys Town Jerusalem and the Ozar Torah Sephardic schools of Israel.
Mr. Rogosin will personally invest $6 million in the rayon plant, the Israel Government will underwrite $7 million and a group of private individuals and institutions will supply the remaining $7 million. About half the plant’s production will go into the export market, providing a source of hard currency for Israel.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
