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Histadrut Body Approves Ten Million Pounds Shipyard Project

The secretariat of Hevrat Haovdim, the Histadrut holding Company, voted approval of a project for construction of a shipyard at Haifa by Solel Boneh, Histadrut’s construction subsidiary, the Zim-Israel Shipping Company and the Israel Government. The first stage of construction of the joint venture will require a capital investment of ten million pounds ($5.5 million).

The secretariat also approved plans to expand existing cement factories near Haifa and Ramleh to increase present annual output from 600, 000 tons to 890, 000 tons.