A new complex of plants for the chemical industry, to cost 130,000,000 Israeli pounds (over $43,000,000) will be built near Arad, in the Negev, and will be ready to start production in 1968, the Ministry of Development announced here today.
The complex, expected, according to the Ministry, to become one of Israel’s major chemical industry developments, will be built by the Madera Company, and work is expected to start within three months. The new plant, to be financed by American and Israeli capital, will have an annual output capacity of 70,000,000 Israeli pounds worth ($23,000,000) of production, of which about $16,000,000 worth will be earmarked for export. The export portion alone, the Ministry said, exceeds last year’s total earnings by the Dead Sea chemical works.
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