Israel Corporation Awards Contracts for Rotem Power Plant

29 June 2010 (Last Updated June 29th, 2010 18:30)

Israel Corp has awarded a contract to Daewoo to build a combined cycle power plant. The company has also awarded a maintenance contract to Mitsubishi Heavy Industries for the 440MW Rotem power station. The two contracts together are worth $440m. The plant will be built by D

Israel Corp has awarded a contract to Daewoo to build a combined cycle power plant.

The company has also awarded a maintenance contract to Mitsubishi Heavy Industries for the 440MW Rotem power station.

The two contracts together are worth $440m.

The plant will be built by December 2012 for OPC Rotem, an Israel Corp subsidiary.

Under the 12-year maintenance contract, Mitsubishi Heavy Industries will carry out the planned and unplanned maintenance of the main components including gas turbine, steam turbine and
Generators.

Israel Corp, which owns 80% of OPC, plans to finance the development from equity and loans from financial institutions.