The tunnels will cost a total of NIS 1 billion, and take four years to build.
Carmelton, the franchise holder for the Carmel Tunnels project in Haifa, will publish a $100 million international tender for digging the tunnels.
Carmelton is expected to contract with more than one company to work simultaneously in order to speed up the work. The franchise holder said that many international tunneling companies are interested in the tender, including China Civil Engineering Construction Corporation (CCECC), which is competing in the Tel Aviv light railway tender, and Zueblin of Germany.
The Carmel Tunnels project includes two five-kilometer tunnels connecting the Krayot region north of Haifa, the Check Post intersection, and the southern approaches to Haifa. The tunnels will cost of total of NIS 1 billion, and take four years to build. Carmelton is planning to inaugurate the tunnels in early 2010.
Carmelton, a partnership consisting of Housing and Construction Holding Co.(Shikun u'Binui) (TASE: HUCN) and Ashtrom Properties Ltd. (TASE: ASPR), last week signed financing agreements with Israel Discount Bank (TASE: DSCT).
Published by Globes [online] - www.globes.co.il - on January 15, 2006