The participation of American investors in the planned establishment of an $8,000,000 rayon plait in Nathanya, Israel, was reported today by the economic department of the Jewish Agency here.
The new venture is to be financed by Oscar Konorn amp; Co. of New York, Leading international specializes in the construction of rayon mills, and other groups of private American and Israeli investors, the report said. It emphasized that the project is still open to American investors to the extent of $1,000,000, and will be further aided by loans from the Export Bank of Japan and the Israel Government.
The Palestine Economic Corporation today announced that a new factory for the production of sugar from sugar beets will be started in May by private investors with whom the Corporation is associated. The yearly capacity of the sugar factory will be 2,700 tons, which is ten percent of the annual requirement of the country. Up to the present Israel has had to import all its sugar.
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