IDE to build desalination plant in Australia

According to an article in Reuters, Israel Desalination Enterprises Technologies (IDE) won a tender to build a desalination plant worth more than $100 million in western Australia, Israeli financial daily TheMarker reported on Sunday.

IDE, jointly owned by Israel Chemicals and the Delek Group, will build a plant capable of producing 50 million cubic metres of water annually as part of an iron-mining project in Pilbarra, the paper said.

IDE officials declined to comment.

The company in November postponed a planned initial public offering in London as a result of prevailing global market conditions. It had aimed to raise up to $200 million in global depositary shares.

Desalination company IDE set for IPO

Delek Group Ltd. (TASE: DLEKG) and Israel Chemicals Ltd. (TASE: CHIM) announced that they plan to float at least 25% of their joint venture IDE Technologies Ltd. on the London Stock Exchange. Sources tell Globes that IDE plans to raise up to $200 million at a company value of $500 million, before money.

IDE was founded in 1965. The company develops both thermal and seawater reverse osmosis desalination - the two prevailing technologies for seawater desalination, and is active in 40 countries, including China, India, Israel, Australia, Latin America, and the US. It has designed and built more than 370 facilities to date.