The GES consortium, comprising Shapir Engineering and Industry (TASE: SPEN), controlled by the Shapira family, and Generation Capital, is buying the Ashdod desalination plant from Mekorot Israel National Water Co.

The consortium will pay Mekorot NIS 909 million, which is much more than Mekorot estimated.

The plant desalinates some 100 million cubic meters of water annually, about a sixth of the total volume of desalinated water currently produced in Israel.