ICL Signs Agreement for New Special Dredger
- Business & Finance
ICL, a Tel Aviv based manufacturer of products based on unique minerals, by its subsidiary Dead Sea Works (DSW), has signed an agreement for the first stage of the salt harvesting project at Pond 5, to preserve the pond’s water level.
The agreement was signed with Holland Shallow Seas Dredging Limited who was selected to lead the project.
Under the contract arrangement, the selected company will start building a special dredger dedicated to the harvesting project, in the amount of $280 million.
The dredger is expected to be 120 x 24 meters and will be operated continuously by tens of employees who will be recruited by the contracting company, ICL said in its release.
The dredger will remove approximately 5.5 million cubic meters of salt per year from the southern basin of the Dead Sea.
The salt harvesting project is considered one of the most complex and expensive infrastructure projects in Israel and will cost approximately $2 billion. According to the agreement signed with the State of Israel, ICL will finance 80% of the cost of the project.