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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

ICL freezes Israel investments to protest taxes on natural resources

7:00 AM MDT | August 15, 2014 | —Natasha Alperowicz

Israel Chemicals Ltd.’s (ICL; Tel Aviv) board reiterated on 6 August the company’s earlier decision to freeze $750 million of new and previously approved investment in Israel and to examine critically the feasibility of $1 billion in other projects that form part of the company’s long-term plans. ICL will also evaluate ceasing some production of several products, including bromine compounds and certain downstream phosphate products, or to continue reducing costs in these operations, possibly by trying to attract partners. The company also...

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