Netanyahu Unveils a Red-Med Rail Plan in Washington

Finance Minister Benjamin Netanyahu will present Bush administration officials and congressmen with plans for a rail route between Eilat and the Mediterranean Sea, during meetings today and tomorrow in Washington.

Netanyahu will seek foreign investors to fund the ambitious project.

The "land bridge" project is currently under review at the Finance Ministry. It involves the construction of a rail line between Nahal Zin and Eilat, to allow the transport of cargo from the Red Sea to the Mediterranean, providing an alternative to the Suez Canal.

This week, Netanyahu met with heads of America's largest pension fund, which is affiliated with General Electric and operates assets worth $70 billion.They expressed interest in investing in Israeli high-tech.

Stanley Gold, president and CEO of Shamrock Holdings, said his company could help persuade foreign investors to support projects in Israel.