Joint TV Channel
In Russia?
Jerusalem — Bezeq signed a
memorandum of understanding
with a Russian bank and a TV
station to consider the joint es-
tablishment of a cable TV chan-
nel and a regular broadcasting
channel throughout Russia.
Bezeq director-general Yitzhak
Kaul signed the document, along
with Mikhail Yuravlev, chairman
of Mostroybank, and Vladimir
Sinlankov, manager of Telex-
press-Channel 31 in Russia.
Mr. K.aul said the bank's in-
volvement adds considerable fi-
nancial strength to the proposed
project. Bezeq will send a special
team to Moscow to study the pro-
ject, which has to be approved by
the company's board of directors.
The memorandum also opens the
door to the option of other joint pro-
jects in Russian communications.
Credit Line From
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Jerusalem — Treasury director-
general David Brodet and Ac-
countant-General Shai Talmon
have chosen the London law firm
of Allen & Overy to set up a $20
billion European line of credit
based on Israel's recent Standard
& Poor BBB+ rating, the Trea-
sury announced.
The government is planning
to set up the line of credit of Eu-
ropean Medium Term Notes
(EMTN), which will enable the
Treasury in coming years to raise
loans of different maturities, de-
nominated in various currencies,
based on need.
The notes will bear maturities
of 2-7 years and will be traded in
European stock markets.
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Jerusalem — Japanese entre-
preneurs plan to establish an in-
dustrial complex — including
high-tech industries, research
and development institutes and
a tourism project — at the Omer
industrial zone, near Beersheba.
Some $250 million will be in-
vested in the complex, not in-
cluding the cost of the factories.
The tourism complex will be
adjacent to the factories and be
built at a cost of $100 million. It
will include a 300-room hotel de-
signed and run in Japanese style.
The entire project will be built
by the Rekoto Kasai company. It
has contracted work from the
Japanese architectural firm Shin
Takamatsu-Liani, which has de-
signed similar projects in the Far
East and in Berlin.
Construction is expected to be
completed within four years.