IDE and Bank Hapoalim were selected as winners in the final stage of the Best & Final Offer tender for the desalination facility to be built in the Western Galilee near Nahariya, with a production output of 100 million cubic meters of water per year.
The new desalination plant will enable the connection of the Western Galilee to the national water system.
Until now, the northern region has mostly relied on borehole water, and in the hot years when the amount of precipitation in the north was low, the supply and quality of the water were damaged.
The establishment of the facility in the Western Galilee will enable a regular supply of good quality water to the northern region.
The capacity to desalinate seawater today in the State of Israel accounts for approximately 65% of the total household and industrial consumption of fresh water in the economy.
The new facility will increase the water desalination production capacity by 13%.
When the IDE company completes the construction of the facilities in Shork B and the Western Galilee, the total water desalination production in Israel at the seven desalination facilities will amount to approximately 900 million cubic meters per year and will constitute approximately 90% of domestic and industrial water consumption.
Itamar Furman,
Construction work on the facility in the Western Galilee will begin at the beginning of 2023 and will last approximately 30 months.
According to the expectations, already in the middle of 2025, the facility will start supplying desalinated water to the national water network for 25 years.
The expected revenues for each year of operation are NIS 180 million.
Bank Hapoalim, the leader in the field of project and infrastructure financing in Israel, will provide financing for the project in the amount of approximately NIS 1.3 billion, and this is the fifth desalination project in which Bank Hapoalim has been involved in its organization and financing in recent years.
Itamar Furman, deputy to the CEO of Bank Hapoalim and in charge of the business division, congratulated Avshalom Flaver and Amir Lang for winning the tender and said: "The professionalism, initiative and efficiency with which the group and the bank managed the tender process are worthy of respect and led to the desired result.
The bank provides strategic value in leading the organization and financing of projects in the field of infrastructure in the State of Israel, and will continue to accompany customers in leading and groundbreaking projects.
I am proud of the professional ability, determination and perseverance of the dedicated employees in the project and infrastructure financing sector at the bank led by the sector manager, Lior Mentzer and the customer relations manager, Shaf Gilad."
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