Israel and Brazil signed today an agreement for the incorporation of a Joint firm to engage in locating water resources and irrigation work in the underdeveloped northeastern area of this country. The company will have a capitalization of 100,000,000 cruzeiros ($210,000), the majority shares to be owned by Brazil.
Under the pact, Israel will train a number of Brazilians in Israel in locating water resources and will also subsidize the technical training of Brazilian students in this country. Israel will also supply equipment for water resource identification and for irrigation.
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