This is the first time that a private concession has been awarded for maintaining and operating inter-city highways.
Israel National Roads Co. Ltd. today announced that Solel Boneh Building and Infrastructure Ltd., a subsidiary of Arison Holdings unit Shikun u'Binui Holdings Ltd. (Housing and Construction) (TASE: HUCN) has won a large contract for maintaining roads in the northern region. The contract is believed to be worth NIS 1.2 billion.
Solel Boneh beat off a bid from Shapir Civil Engineering and Marine Ltd. to win the tender. It will be responsible for operating and maintaining 270 kilometers of roads in the northern region for 20 years, including renovations and upgrades over the next two and a half years.
This is the first time that a private concession has been awarded for maintaining and operating inter-city highways.
Israel National Roads CEO Alex Viznitzer said, "Today begins an era of new standards on Israel's inter-city roads and relations between the state and the private sector."
Published by Globes [online], Israel business news - www.globes-online.com - on July 26, 2009
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