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American and Israeli Groups to Build Jointly a New Town in Israel

Plans to create the largest community development project ever attempted, in the form of a town at Ashdod on Israel’s Mediterranean coast, were confirmed today in a joint announcement by Philip M. Klutznick, chairman of the board of the American Community Builders Corp., and Oved Ben-Ami, founder and mayor of the town of Natanya, in Israel. Planned for a population of 150, 000 in 15 years, the new town was scheduled to become Israel’s second deep sea port with an investment of about $30, 000, 000.