The company is expanding its Chilca power station.
Israel Corporation (TASE: ILCO) has signed a $100 million contract with Siemens AG (NYSE: SI; XETRA: SIE) to expand the power station at Chilca, south of Lima in Peru. The contract was signed by Israel Corp.'s wholly-owned subsidiary Kallpa Generacion SA, held through Inkia Energy Inc. The 192-megawatt open cycle turbine will use natural gas, and is due to come on line by mid-2010.
The new turbine will join the present turbine and the turbine that is now under construction at the site, which is due to come on line in mid-2009. The third turbine will boost the power station's output to 570 megawatts. A Peruvian bank is financing most of the cost of the second turbine.
Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008