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U.S. Group to Invest $1.000,000 in Haifa Fertilizer Plant; Buys Shares

An agreement to buy the government’s share in the fertilizer and chemical plant at Haifa for $1, 000, 000 was announced here today by Sam Rothberg on behalf of the Israel Investors Corporation in the United States.

The $1,000, 000 investment is preliminary. The American corporation will invest a total of $10, 000, 000 in the next two years in industrial enterprises in which the Israel Government has shares.

In addition, Mr. Rothberg said, he will recommend that the Israel Investors group in the United States invest $1, 000, 000 in the oil pipeline project being financed by the de Rothschild group of London. That project will build an enlarged oil pipeline from Elath to Haifa.