Bidders line up for Sorek 2, as IDE agrees put option
09 Oct 18 by Carl Myers
Seven groups are bidding for Israel’s Sorek 2 desalination plant project, including IDE Technologies which will sell off part of its desalination capacity if successful.
The other bidders are GES, of Israel; China’s Hutchinson, and PMEC; and from Europe, Suez, Acciona together with Israel’s Allied, and Aqualia with WPI of Israel. The contract provides for planing, financing, constructing, and operating a desalination plant of 200 million m3/y (547,945m3/d).
IDE, the size of whose Israeli desalination business would fall foul of anti-trust rules should it win the competition, has agreed a put option on Sorek 1 desalination plant, which it owns. Dan Public Transportation has reportedly agreed to buy Sorek 1 for ILS 500 million ($137 million).
In June 2018, IDE exercised first refusal rights to acquire 49 per cent of Sorek 1 from Hutchinson for ILS 190 million ($53.3 million), taking its holding to 100 per cent. Sorek 1 is a 624,000 m3/d capacity plant that began operating in 2013 on a build, operate, transfer contact running to 2037.
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