Lesico Group to build power plant in Israel with projected 70 million shekel revenue
The Lesico Group is expanding its footprint in the energy sector. Its subsidiary, Foldmir Binyan, has secured a contract to construct a power plant in southern Israel, with the first phase expected to generate approximately 70 million shekels in revenue.
The Lesico Group continues to expand its activity in the energy sector. The company reports that its subsidiary, Foldmir Binyan, has signed an agreement to carry out construction works for a power plant in the south of the country, with the group's expected revenue from the project's first phase amounting to approximately 70 million shekels, excluding VAT.
The works, carried out by Foldmir as a civil engineering contractor, began at the start of the third quarter of 2026. The execution period for the first phase is estimated at approximately 15 months, with payments distributed throughout the construction period. The engagement is based on a measurement agreement, and the company estimates that the gross profit margin will align with its standard rates for similar projects.
This new project joins several other recent wins for the construction of substations. The total financial scope of these projects exceeds 60 million shekels, further strengthening the group's presence in the energy sector, with a focus on power plants and high and extra-high voltage facilities.
The Lesico Group has extensive experience in building electricity generation facilities, having been involved for years in the construction and upgrading of power plants and substations for the Israel Electric Corporation and private entities.
In early 2026, Lesico was selected as the general contractor for the Israel Electric Corporation for the construction of a switching station in Emek Hefer. The project, valued at over 90 million shekels, includes the construction of buildings and electromechanical systems, the dismantling of existing structures, and comprehensive engineering and development works.
"Lesico has identified the energy sector as a significant growth channel. We are proud that the experience and capabilities we have built in this field establish a competitive market position for Lesico, reflected in significant tender wins and growing volumes of activity," stated Yaron Silash, CEO of the Lesico Group.
Silash added: "We expect the expansion trend to continue across all areas of energy infrastructure, with an emphasis on power plants and substations, and we are prepared for this."
Lesico operates in civil engineering, complex infrastructure, and process piping construction in Israel and abroad. Additionally, the group is expanding its activities in industry, energy, and industrialized construction, as well as in the treatment of contaminated soil.
