IDE Technologies Ltd. has signed a $119 million contract to build a seawater desalination facility in China for the Beijiang power station, 200 kilometers northeast of Beijing. The power station is owned by Tianjin Ambest International Logistics Co. Ltd.
The facility will be the largest desalination plant in China. It will provide 100,000 cubic meters of fresh water a day for the power station’s generators, and drinking water for local residents. The saline water will be used to make salt.
IDE has built hundreds of desalination facilities worldwide, and is building the Hadera desalination plant, which will produce 100 million cubic meters of fresh water a year. The Hadera plant will come on line 2010.
IDE Technologies CEO Avshalom Felber said that China was an important strategic market for the company. He added that breaking into the Chinese market strengthened the company’s position as one of the world’s leading desalination technology companies. The contract was an important milestone in the company’s success, following the construction of 360 desalination facilities worldwide.
Delek Group Ltd. (TASE: DLEKG) and Israel Chemicals Ltd. (TASE: CHIM) own IDE in equal shares.
Published by Globes [online], Israel business news - www.globes.co.il - on June 10, 2007
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