Bloomberg News

Israel Finance Ministry Says No Deal Made With Israel Chemicals

November 17, 2011

Nov. 17 (Bloomberg) -- Israel’s Ministry of Finance said the government hasn’t reached an agreement with a unit of Israel Chemicals Ltd., following a report by Calcalist.

“No agreement has been reached with Israel Chemicals,” the Jerusalem-based ministry said in a statement read over the telephone to Bloomberg, without providing further details.

Calcalist reported that Dead Sea Works Ltd. agreed with the ministry that it would harvest 85 percent of the Dead Sea salt and increase payments to the government, a move that would cost the company more than 5 billion shekels ($1.3 billion).

--Editors: Peter Branton, Alan Purkiss

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Calev Ben-David at cbendavid@bloomberg.net


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