Knesset Approves Concession on Oil Pipeline to Foreign Investors
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Knesset Approves Concession on Oil Pipeline to Foreign Investors

With only the Communists in opposition, the Knesset, Israel’s parliament, today unanimously approved on final reading a bill granting a group of investors, headed by Baron Edmund de Rothschild, a special 10-year lease to operate a 16-inch oil pipeline from Elath to Haifa.

The eight-inch line between Elath and Beersheba is now being replaced by a new 16-inch line: When the entire line is brought up to 16-inch bore, by July, 1960, it will have a capacity of 2, 000, 000 tons of oil annually. Further improvements, including the establishment of more efficient pumping stations, will increase the capacity to 3, 000, 000 tons a year by March of 1961.