IDE wins desalination contracts worth $650m in US

The Delek and Israel Chemicals joint venture will supply design and supply equipment for the Carlsabad desalination plant in San Diego, and operate it for 30 years.

IDE Technologies Ltd., owned in equal shares by Delek Group Ltd. (TASE: DLEKG) and Israel Chemicals Ltd. (TASE: ICL), has signed a $150 million contract with one of the largest desalination ventures in the US to plan and supply equipment for the largest desalination plant in the country. The plant will be built near the Encina power station in Carlsabad, in San Diego County, California.

IDE has also signed a $500 million, 30-year operating and maintenance contract with Poseidon Resources LP for the desalination facility, which will produce up to 200,000 cubic meters of drinking water a day in 2016. The Carslabad desalination plant will produce 7% of the area's water consumption by 2020.

"The Carlsabad desalination project is an important milestone for us, for the State of California, and for the US in general. We believe that it will pave the way for the future of desalination in America," said IDE president and CEO Avshalom Felber.

Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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