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Dutch Firm to Build Shipyard at Haifa; Agreement Signed in Holland

Agreement was reached here yesterday between Israel and the De Schelde firm, Dutch shipyard builders, for the construction of a shipbuilding and repair yard at Haifa.

The contract for the project, involving an initial $20,000,000 capital investment, was officially signed in the presence of Israel’s Ambassador to The Hague, Chanan Cidor; John Hupkes, director general of the Schelde firm and Jacob Libertowski, director general of Israel Shipyards, Ltd.

The contract provides for a twelve-year period during which Dutch engineers, administrators and technicians will participate in the direction of the enterprise.