www.bethelfinance.com
The Ministry of Finance and Israel Chemicals Ltd. (TASE: ICL) are close to deal on financing the salt harvesting as part of the rehabilitation of the southern basin of the Dead Sea, after months of negotiations. Under the pending deal, Israel Chemicals unit Dead Sea Works will pay 75-80% of the cost. Talks are continuing.
The Ministry of Finance's opening position on the cost was NIS 5-7 billion, based on an estimate by The Dead Sea Preservation Government Company Ltd. Israel Chemicals' opening estimate was NIS 4 billion, of which it was willing to pay 40%.
With the progress in the talks Minister of Environmental Protection Gilad Erdan and Minister of Tourism Stas Misezhnikov today asked Prime Minister Benjamin Netanyahu to submit their plan for the rehabilitation of the Dead Sea, prepared six months ago, to the cabinet for approval.
Israel Chemicals and the Ministry of Finance opened their talks on the salt harvesting cost at Netanyahu's order.
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