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Bethel Finance news:
The European Investment Bank (EIB) has announced the signing of a €120 million finance contract relating to the design and construction of a seawater desalination plant using reverse osmosis technology in Ashdod, Israel.
The contract has been signed with Bank Hapoalim, which will on-lend the funds to Ashdod Desalination Ltd, a fully owned subsidiary of Mekorot Development and Enterprise Ltd. The project will serve to substantially increase the availability of water resources in a water-scarce region through the construction of a plant with a production capacity of 100 million cubic metres per year. The expansion of desalination technology will have a direct impact on people’s daily lives: the blending of desalinated water with fresh potable water from the national water carrier system will improve the quality of water delivered to consumers by reducing hardness and concentrations of salts, nitrates and boron.
The financing of this project forms part of the EIB’s support for improving wastewater treatment facilities and drinking water supply in the regions. In the Mediterranean region as a whole, it has devoted more than €1.05 billion to the water sector.
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