Israel Electric Corporation (IEC) (TASE: ELEC.B22) (IEC) launched its largest ever environmental project yesterday with the publication of an international tender for the installing of two scrubbers in two generation units at the Hadera power plant. The tender was published following an agreement with the utility's workers' committee.
The estimated $150 million tender also includes an option for the installation of scrubbers in two more production units at the Rutenberg power plant in Ashkelon. If the tender winner exercises this option, the total value of the tender will reach $250-300 million. Construction work is to be completed by the end of 2011.
The installation of scrubbers to reduce sulfur oxide emissions will be IEC's largest environmental project in the coming ears. Scrubbers are a process and apparatus for removing pollutants from a waste gas stream during the combustion of coal, and are understood to be able to reduce sulfur emissions by 90%.
According to the revised national framework program, IEC is supposed to complete the installation of the scrubbers at the Hadera power plant by 2011 and those at the Rutenberg power plant in Ashkelon by 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2008
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