NIS 243 million released to manufacturers

In Kiryat Shmona, which was hard-hit by rocket barrages, three factories will receive an investment support injection of a total of NIS 23.3m., while creating 41 new jobs.

factory k shmona 88 298 (photo credit: Bloomberg)
factory k shmona 88 298
(photo credit: Bloomberg)
The Ministry of Industry, Trade and Labor on Wednesday approved the release of NIS 243 million in funds to support investment of the manufacturing industry in the conflict area in the North and Gaza. "We approved 25 requests from the conflict zones in the North and Sderot for a total of NIS 243m.," said Hezi Zaieg, director of the Investment Promotion Center of the Ministry of Industry, Trade and Labor. "This support will secure the continuation and expansion of investment in further production lines and will lead to the recruitment of hundreds of workers in these areas." In Kiryat Shmona, which was hard-hit by rocket barrages, three factories will receive an investment support injection of a total of NIS 23.3m., while creating 41 new jobs. Supportive funds of NIS 8.8m. have been approved to two factories in the Dalton Industrial Park in the upper Galilee, which will recruit 24 new employees. About NIS 10.5m. will be allocated to a factory in Hanita, which will recruit 14 new employees and a new factory in Karmiel will be helped by the investment of NIS 9.5m., which will create 35 new jobs. Tosaf Compounds Ltd., located in the Alon Tavor Industrial area will receive NIS 45m. to expand its production lines, while creating 25 new jobs. Haifa-based Carmel Olefins Ltd., a producer of polymers and the sole producer of polyolefins, will be granted NIS 29m. for restructuring. About NIS 60m. will be allocated to five factories in Sderot creating 85 new jobs. Other areas of investment include Beit She'an, Ashdot Yaakov, Netivot, Kibbutz Nir Yitzchak and Shlomi. Separately, the Public Trust Organization has opened a hotline (03-560-6069) for consumers and service providers in the North and other areas of the country, which are affected by the conflict. The main problems consumers have been encountering were related to various types of service arrangements, supply of orders and bookings that could not be realized or were hampered or delayed because of the security situation, the organization said.