IDE Technologies Ltd. will build a 50 million cubic meter a year desalination facility for a company in Australia for €100 million. The facility will use the same reverse osmosis technology used at IDE's Ashkelon seawater desalination facility, as well as at facilities in Hadera, Eilat, and Cyprus.
The Australian facility will produce 140,000 cubic meters of fresh water a day. The facility will be one of the largest that IDE has built for foreign customers. In addition, the water quality in Australia requires much more precise and complex treatment in comparison with similar facilities elsewhere in the world.
IDE CEO Avshalom Felber said that the deal consolidates the company's presence in Australia, which is suffering from severe drought and water shortages. The deal also strengthens the company's international presence, in line with its business strategy of global expansion, and also reinforces the company's standing as a global leader in seawater desalination.
Delek Group Ltd. (TASE: DLEKG) and Israel Chemicals Ltd. (TASE: ICL) owns IDE in equal shares.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2008
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