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Ampal to Invest $10 Million in Israel As Part of $50 Million Program

AMPAL–American Israel Corporation will invest $10,000,000 in Israel this year in the first phase of a $50,000,000 investment program to be carried out over the next five to ten years, Abraham Dickenstein, president of AMPAL, announced today.

Mr. Dickenstein told a meeting of the AMPAL Board that this year’s investments would be in expansion of the productive capacity of major industrial exporters, in construction of upper and middle-income apartment houses, and in purchase of heavy equipment for Israel’s largest construction company.