The company owns 20% of Dorad Energy, and is a partner with Edeltech in the construction of four power stations.
Turkey’s Zorlu Industrial and Powerplants Construction Co. Inc. will invest NIS 300 million in shareholders’ equity in projects to build a number of private power stations in Israel through 2009-10. The company decided on the investment even though most of the projects have not yet closed financing. The company has already ordered some turbines for the planned projects.
Zorlu was one of the first companies to enter the private energy industry in Israel. The company owns 20% of Dorad Energy Ltd., which is building an 800 megawatt power station in Ashkelon, at an estimated cost of $700 million. The power station is due to open in 2010.
Zorlu has also partnered with Edeltech Holding Ltd. to build cogeneration power stations for Makhteshim Agan Industries Ltd. (TASE: MAIN) and its subsidiary Agan Chemicals Ltd., Haifa Chemicals Ltd., and Solbar Industries Ltd. (TASE: SLBR). The plants will have an aggregate capacity of 250 megawatts and cost NIS 1 billion to build.
Published by Globes [online], Israel business news - www.globes.co.il - on August 9, 2007
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