Makhteshim power plant gets nod

The investment in the plant will total $120 million.

There has been further progress in plans by A target=new href=>Makhteshim Agan Industries Ltd. (TASE: MAIN) to build its own power plant. Sources inform ''Globes'' that the Public Utilities Authority (Electricity), chaired by Amnon Shapira, has given Makhteshim's contractor Ramat Negev Energy Ltd. a conditional license to build a 124 megawatt power plant at Makhteshim's plant in Ramat Hovav, at an estimated total cost of $120 million.

The license now awaits the signature of Minister of National Infrastructures Benjamin Ben-Eliezer. The Ministry of National Infrastructures will probably issue the license for a period of three years by which time the construction of the power plant should be complete.

Ramat Negev Energy is jointly owned by Edeltech Holding Ltd. and Turkish energy company Zorlu Industrial and Powerplants Construction Co. Inc. Edeltech and Zorlu are also building other power plants including the Solbar Industries (TASE: SLBR) and Agan Chemicals Ltd. Ashdod and an internal plant at Haifa Chemicals Ltd. in the north.

Published by Globes [online], Israel business news - - on January 9, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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