The government will finance 20% of the NIS 515 million move to Netivot.
Tara Dairy is moving from Tel Aviv to Netivot. An inter-ministerial committee headed by Investment Promotion Center director Hezi Zaieg approved the cooperative's request to move as part of the government program for encouraging business in outlying areas. Tara Dairy plans to invest NIS 515 million for the move, of which the Ministry of Industry, Trade and Labor will finance a fifth, or NIS 103 million.
Minister of Industry, Trade and Labor Benjamin Ben-Eliezer said, "A food and beverages company that proposes a mega investment like Tara will create good and stable jobs for many years. I believe that, for the first time, a serious opportunity has been provided to develop the Netivot area, and the Ministry of Industry and its departments will continue to promote the entire region,"
Tara Dairy will relocate its dairy from central Tel Aviv and expand production by investing in advanced new equipment that will boost and streamline output.
Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2009
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