ISRAEL-BASED water treatment company IDE Technologies Group is eyeing expansion opportunities in the Philippines, the company’s chief executive officer (CEO) said on Wednesday.
“We’re focusing on a specific project, but that project is kind of a very interesting opening for us because it will involve creating a local entity of IDE with mostly local people as employees,” IDE CEO Alon Tavor said during a media briefing.
“We have teamed up with several local partners to come up with very interesting projects,” he added.
IDE is a water company that specializes in the development, engineering, construction, and operation of enhanced desalination and industrial water treatment plants.
Desalination is the process of removing salt from seawater to make it potable, safe for human consumption.
Founded in 1965, it has headquarters in Israel, with offices in the USA, China, India, Chile, and Australia, facilitating client partnerships across the globe. The company has over 400 plants spanning 40 countries.
“We don’t only sell projects. A lot of the time, we own the plant, we operate it, and we simply sell water as a solution,” Mr. Tavor said.
Investing in projects typically starts at “a few hundred thousand dollars for a very small project and can go up to hundreds of millions of dollars for large projects,” he also said.
“We see the fact that the Philippines realizes the level of water issues that need to be managed as an interesting opportunity for us, and therefore we’re here.”
Israeli Ambassador Ilan Fluss said they are looking into bringing more companies to the Philippines to share their best practices and technologies.
“On the water sector, we have some Israeli companies who are active in the Philippines, but I have to say not enough and what [is] seen now is… water in the Philippines has become an important issue,” Mr. Fluss said. — Sheldeen Joy Talavera