Philip Klutznick, president of B’nai B’rith and head of a group of American investors, has been negotiating with Israel Finance Minister Levi Eshkol for the establishment of an American investment corporation in Israel for the construction of possibly $30, 000, 000 worth of housing developments in different localities in this country. Finance Ministry sources said today.
The negotiations are expected to be completed within the next few days. It is understood that Mr. Klutznick has already applied to the International Cooperation Administration in Washington for guarantees for the project.
A second project for which Mr. Klutznick is negotiating is the construction from scratch of a complete city at Ashdot Yam. It is anticipated that eventually 100, 000 people will live in the city which will be near Israel’s future deep water port on the Mediterranean coast.
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.
