The company wants to build a pumped storage hydroelectric plant an land owned by subsidiary Nesher Cement Enterprises.
IDB Holding Corp. Ltd. (TASE:IDBH) unit Clal Industries and Investments Ltd. (TASE: CII) has applied for a license to build pumped storage hydroelectric plant on Mount Carmel. The company applied for the license through its subsidiary, Clal Energy Ltd.
The power station will produce 150 megawatts, and will cost $150 million to build. The land slated for the power station is owned by Clal Industries subsidiary Nesher Israel Cement Enterprises Ltd.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2008
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