An agreement has been entered here between Abel Shaban of South Africa and Joseph Marshak of Israel, both representing overseas interests, for the establishment of a cotton spinning mill and a sewing thread mill in Israel,” it was announced here today.
Both mills will be established in Jerusalem covering an area of 17 acres already chosen for the purpose. The cost of both plants is approximately $5, 000, 000. The cotton mill will have a capacity of 30, 000 spindles and will be the largest of its kind in Israel. The sewing thread mill will be the first such factory in Israel. Both mills will partly serve the needs of the Israeli market and the major part of its production will be for export.
Both enterprises will draw their raw material from the newly developed cotton plantations in Israel. The new enterprises will be a great step forward towards the development of the independent Israeli economy.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
