In the presence of members of Israel’s Cabinet, diplomats and leading Israeli and foreign shipping experts, construction work was begun here today for Israel’s new shipyard, in the Kishon Basin area.
Israel is building the shipyard with the aid of experts assigned by the de Schelde Shipyards of Holland. Israel has appropriated 16, 000, 000 pounds ($8, 960, 000). The Dutch firm has invested $520, 000 in the project, and will assist in the raising of a $4, 000, 000, ten-year Joan from private Dutch banks who will invest in the project. Additionally, the Dutch firm is supplying experts to aid in the construction of the ship-building facility.
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