IDE Technologies takes full ownership of Sorek desalination plant

June 13, 2018
IDE Technologies has become the sole owner of the Sorek desalination plant after acquiring the remaining 49 percent holdings from partner company Hutchison Water...

SOREK, Israel - Desalination company IDE Technologies has become the sole owner of the Sorek desalination plant, one of the world’s largest seawater reverse osmosis (SWRD) facilities.

The company acquired the remaining 49 percent holdings from Hong Kong-based partner company Hutchison Water for NIS195 million (US$54.3m) before adjustments.

IDE exercised its first refusal rights in the plant, according to Israel financial site Globes. The announcement of the sale followed Hutchison Water selecting the bid submitted by the Noy Fund to acquire its share in the desalination facility.

Following completion, IDE will hold 100 percent of the franchise for the desalination facility.

It was in late 2017 when Israel Chemicals sold its 50 percent stake in IDE for $167 million to a group including IDE executive chairperson, Avshalom Felber, the Clal Insurance Enterprises Ltd and the Teachers and Kindergarten Teachers' Advanced Training Funds.

Sorek is one of five major desalination plants operating in Israel, including Ashkelon, Palmachim, Hadera, Ashdod, and Sorek.

###

Read more

Tender to launch second desalination plant in Sorek, Israel

Take a 360 degree tour of the world’s largest SWRO desalination facility

Sorek stands tall: SWRO membranes go vertical in Israel

Video case study: Israel’s water success story

Leading Israel’s global desalination industry

Sponsored Recommendations

WIN-911 Alarm Notification Software Enables Faster Response

March 15, 2024
Alarm notification software enables faster response for customers, keeping production on track

Automated Fresh Water Treatment

March 15, 2024
SCADA, Automation and Control for Efficient and Compliant Operations

Digital Transformation Enables Smart Water

March 15, 2024
During this webinar we will discuss factors driving the transformation to digital water, water industry trends, followed by a summary of solutions (products & services) available...

Smart Water Solutions: Transforming the Water Universe

March 15, 2024
Water is our most valuable resource, and efficient and effective water and wastewater handling is crucial for municipalities. As industry experts, you face a number of challenges...