Derech Eretz will maintain the road under Danya Cebus's franchise.
Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) contracting subsidiary Danya Cebus Ltd. (TASE: DNYA) today signed a maintenance contract with Derech Eretz Highways Ltd. for Road 431. Derech Eretz operates Road 6, the Yitzhak Rabin Highway, and is partly owned by Africa-Israel.
Derech Eretz will maintain Road 431 through 2031. Both parties have an opt-out clause for the period of the contract. Derech Eretz will also be responsible for traffic control. Danya Cebus holds the franchise for the road.
Danya Cebus CEO Ilan Ben-Gigi said, "Road 6's operator's proven experience in infrastructure maintenance and operation is the basis for its selection as the operating contractor for Road 431 over the coming years."
Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2008
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