Mekorot subsidiary Mekorot Development & Enterprise Ltd made the announcement that the IVM consortium, comprising Minrav Holdings and Valoriza Agua SL had won the tender. When it opens in 2012, the Ashdod desalination plant is expected to produce 100 million cubic metres of fresh water per year at a 16.25-acre site in the north Ashdod industrial zone.
Mekorot National Water Company subsidiary Mekorot development & Enterprise Ltd. will operate the plant for 25 years, under a BOT (build,operate, and transfer) contract with the government. The tender gives the winner an option to acquire up to 40% of the desalination plant company.
Bank Hapoalim will lead the funding for the project. The European Investment Bank (EIB) reportedly wants to join on up to half of the NIS1.5 billion financing for the project.