Nesher Israel Cement Industries Ltd., which operates a power plant at its Ramle facility, is in talks to sell surplus electricity to Israel Electric Corporation (IEC) (TASE: ELEC.B22). Sales potential could reach NIS 50 million a year.
Nesher built a small 48-megawatt natural gas power plant at its facility in Ramle. In May, the company obtained a 20-year production license from the Public Utilities Authority (Electricity). The license allows Nesher to sell electricity in spot trades to IEC, without the need to commit on a fixed availability of power.
Nesher consumes 22 megawatts of electricity, giving it a surplus of 26 megawatts for sale.
Nochi Dankner-controlled IDB Holding Corp. Ltd. (TASE:IDBH) unit Clal Industries and Investments Ltd. (TASE: CII) owns 75% of Nesher's parent company Mashav. Irish cement maker CRH plc (LSE; NYSE: CRH) owns the other 25% of Mashav.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2010
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