NEW YORK (Dec. 11)
A plan to build a pipeline from the Dead Sea to the Mediterranean Sea to transport up to 1,000,000 tons annually of potash and chemically pure salt was outlined here tonight by Jacob R. Sensibar, president of Construction Aggregates Corporation. Mr. Sensibar said that implementation of this operation “could easily produce the $200,000,000 of additional revenue” needed to close the “gap in the economy of Israel and make the country economically self-sufficient.”
The Chicagoan–whose firm recently completed the draining of 15,000 acres of swampland in Israel’s Huleh region, located near the Syrian frontier–told the more than 400 dinner guests that “preliminary plans indicate an annual revenue of between $10,000,000 and $30,000,000” from the production of potash from the Dead Sea, at the rate of 300,000 to over 1,000,000 tons per year.
Joseph Meyerhoff, president of the Palestine Economic Corporation, told the dinner guests that since its establishment 33 years ago, the PEC has “played a singularly vital role in the economic development of Israel.” He disclosed that the “PEC has brought about the investment in Israel’s principal economic endeavors of some $50,000,000 including the Corporation’s own investments.” Robert Szold, chairman of the board, welcomed the guests and called for a “greater flow of private capital to Israel, to hasten her economic independence.”