VOL. XLV

No 2

14-January-2002

ISRAEL

Israel Electric Set To ReportMajor Financial Losses For 2001

State-owned utility IsraelElectric Corporation (IEC) is set to report financial losses of NIS500mn-700mn ($111mn-155mn)for FY2001, with losses more than doubling in the final quarter of the year asthe company struggled to cope with surging financing costs, according to areport in daily newspaper Ha'aretz on 8 January. A subsequent report inthe same paper on 8 February cited an electricity union...