ICL bows to state, will shoulder bill for saving Dead Sea hotels

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29.12.2011                      03.Tewet. 5772

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ICL bows to state, will shoulder bill for saving Dead Sea hotels

Finance Minister Yuval Steinitz threatened to convene a public committee to discuss company's responsibilities if ICL didn't accept proposal for cost-sharing, royalties.

Spooked by a last-ditch ultimatum that followed long negotiations, Israel Chemicals yesterday accepted the state's position on sharing the cost of rescuing the Dead Sea hotels from inundation, and on the scale of royalties it must pay for mining minerals in the area.
Finance Minister Yuval Steinitz had threatened to convene a public committee to discuss the company's responsibilities if ICL didn't accept his proposal for cost-sharing and royalties….