Tuesday, January 1, 2008

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.