American capital and modern techniques are needed to develop Israel’s building industry and to speed up actual building operations, now proceeding at the rate of many millions of dollars per year. I. Abramski, president of the Building Contractors Federation in Israel, said at a press conference here today.
Mr. Abramski said he came to the United States to seek sponsorship for new projects in Israel. “One of these projects,” he reported, “is the establishment of a new cement plant, which Israel needs very urgently, the second being an enterprise for heavy duty earth-moving equipment. Factories for the production of sand-lime and clay bricks, as well as various other plants are also being considered. The cement plant alone will require $3,000,000 in foreign capital investment, while the equipment firm needs about $250,000 in American machinery.”
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