Daewoo to Work with Israel Corporation on Rotem Power Station

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Researched by Industrial Info Resources (Sugar Land, Texas)--In June, OPC Rotem Limited (Tel Aviv, Israel), a subsidiary of Israel Corporation Limited (TLV:ILCO) (ILCO) (Tel Aviv), announced that it had signed a contract with Daewoo International Corporation (SEO:047050) (Seoul, South Korea) for a gas-fired combined-cycle power station in Israel. Daewoo, a trading organization under the Daewoo Group, has agreed to serve as the design-build firm and will provide turnkey services, according to the contract.

Israel Corporation acquired 80% of OPC Rotem Limited from Ofer Holdings Group (Tel Aviv), Israel Corporation's primary shareholder. Mitsubishi Heavy Industries Limited (TYO:7011) (Tokyo, Japan) also signed a contract with Israel Corporation, agreeing to provide 12 years of maintenance services after the completion of the plant.

As of now, Israel Corporation and OPC Rotem Limited, which will serve as the operator, are working with Daewoo to conclude scheduling and planning for a grassroot, natural gas-fired, combined-cycle power station. Last month, Israel Corporation and Daewoo began the search for subcontractors and equipment, and plan to perform the search through next June. If everything goes according to plan, construction is scheduled to begin this December.

The US$470 million Rotem Power Station is to be near Dimona, approximately 110 kilometers southeast of Tel Aviv in Israel's southern district. Daewoo will construct the facility and install a 300-megawatt (MW) Mitsubishi MHI-M701G combustion turbine-generator, with a heat-recovery steam generator. The set will drive a 140-MW steam turbine-generator. When complete during the third quarter of 2013, the Rotem Power Station is anticipated to produce 400 MW to be supplied to the local grid.

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