The joint venture - H2ID - comprising Israel’s IDE Technologies and infrastructure and real-estate company Housing and Construction Group completed the plant as part of a 25-year Build, Operate and Transfer (BOT) contract with the Government of Israel.
Investment in the construction project totalled NIS1.6 billion (approx.) and has been funded through a consortium of international banks, including the European Investment Bank (EIB); Calyon, the French investment bank; and Esperito Santo (BES), the Portuguese investment bank.
Elsewhere in Israel IDE was also behind the BOT contract for the Ashkelon plant, which was commissioned in 2005 and has a total capacity of 330,000m3/day.
Avshalom Felber, CEO of IDE Technologies, said: “The success of the mega-desalination plant concept has ushered in a whole new era of plentiful, affordable water for a world facing severe water challenges. With the launch of the Ashkelon plant in 2005, we pledged to continue pursuing further breakthroughs in plant capacity and water cost."
Ofer Kotler, CEO of the Housing and Construction Group (Shkiun U’Binui), added: “As one of the most complex and largest building projects our Group has ever undertaken, we are especially pleased to present this plant to a country facing severe water challenges."
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