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Allen & Overy advises lenders for Israel’s largest desalination plant – the largest of its type in the world

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Edward Moser

Partner

London

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Lee Noyek

Co-Head Israel Global Market Group

London

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Ben Davies

Senior Media Relations Manager

London

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02 June 2020

Allen & Overy has advised the lenders to the successful bidder for Israel’s largest desalination plant – the largest of its type in the world. The 25-year contract to design, finance, construct, operate and maintain the 200 million m3/year Sorek B desalination plant which, when complete, could provide more than a third of the country’s water, was awarded to IDE Technologies on 26 May.

Financing for the project has been provided by the European Investment Bank, KfW and a syndicate of Israeli lenders arranged by Bank Leumi, including funds managed by Israeli insurer, Harel Group and Phoenix.  

Commenting on the deal, Allen & Overy partner Ed Moser said: “We are delighted to have been able to support IDE’s lenders on this transaction. Sorek B represents not only a fantastic mandate for the firm, it is also testament to our position as the leading international law firm involved in the Israeli energy and infrastructure sector.”

Lee Noyek, head of Allen & Overy’s Israel Group added: “Sorek B is another important milestone in our strong record of advising on leading transactions in Israel, particularly in the energy and infrastructure space. We look forward to continuing to play a significant role in the wave of new infrastructure and energy projects coming to market.”

The Allen & Overy team was led by London partners Ed Moser and Andrew Castle supported by senior associate Alex Chenery, associates George Chrysospathis, Lucy Williams and Amritha John together with trainee Youn Kyung Lee. 

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