The deal, which was announced by H2ID - a consortium of IDE TEchnologies and Shikun & Binui (Housing and Construction) - will ensure that the reverse osmosis desalination plant will now have a production capacity of 127 million cubic metres. The expansion project is funded by EIB, Calyon Corporate and Investment Bank, BES and two Israeli banks: Bank Hapoalim and Discount Bank.

The Hadera desalination facility was ordered by Israel’s government and is now in an advanced construction phase, with the intention of producing desalinated water gradually from the end of 2009. The plant is constructed and operated by H2ID and will be completed in 2010.