The to-be built plant will replace an existing one built in 1995 which uses diesel generators powered by heavy fuel oil. Also, the capacity of the new plant is expected to be significantly higher.

To be maintained by Siemens under a long term service agreement, the plant will be built under an lump sum engineering, procurement and construction contract by a leading international firm in the field of eco-friendly power generation.

ICL Fertilizers CEO Dani Chen said that the construction of the new power plant is an important strategic step that will secure the company’s long-term energy needs while moving it forward in pursuit of ever-higher achievements of environmental protection, safety and sustainability.

"The plant’s use of a combined cycle cogeneration architecture utilizing a Siemens gas-fired turbine will enable us to generate steam and electricity at exceptionally high efficiency, thereby lowering its cost while enhancing its environmental profile," added Chen

Work on the power plant is expected to begin in the third quarter of 2013 with a completion date in the second quarter of 2015.