Israel Government to Purchase $7, 000, 000 Oil Tanker from Japan

An Israeli government decision to purchase a second huge oil tanker from Japanese shipyards was announced here today. It has also been decided to build a large shipyard at Haifa, with the participation of the Japanese. Both decisions were reached by the Cabinet committee of economic ministers.

The new 47, 000 ton tanker will cost $7, 000, 000, which represents a saving of $1, 500, 000 below the price of the first Japanese tanker ordered by Israel. The current world-wide shipbuilding slump contributed to the lower price.

The first phase of the shipyard project at Haifa will cost an estimated $10, 000, 000, which the Japanese will supply 30 percent in the form of equipment, it was learned. There is said to be a possibility that French investors will join the venture.

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