Major contractors enter Krayot bypass road tender

The NIS 1.9 billion 14-kilometer road will run from Acre to Haifa, and include five interchanges.

Israel's top four infrastructure contractors - Ashtrom Properties Ltd. (TASE:ASPR) subsidiary Derachim Building & Development (SAZ) Ltd., Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) subsidiary Danya Cebus Ltd. (TASE: DNYA), Shikun u'Binui Holdings Ltd. (Housing and Construction) (TASE: HUCN) subsidiary Shikun u'Binui Solel Boneh Building and Infrastructure Ltd., and Shafir Civil and Marine Engineering Ltd.) - have all bid in the NIS 1.9 billion Israel National Roads Company Ltd. tender to build the Krayot bypass road.

Last week, "Globes" disclosed that the four companies were expected to bid in the tender, which is the largest road tender now underway in the country.

Danya Cebus submitted a joint bid with Gili & Yoel Azaria Ltd.

The Roads Company said that it will announce the winner within a month, and that work on the road will begin by the end of the year, and is expected to take three years. The 14-kilometer road will run from Acre to Haifa, and include five interchanges. It is aimed to alleviate traffic on Road 4 between the Check Post junction in Haifa and Acre.

The total project will cost an estimated NIS 1.9 billion, including NIS 1.2 billion for the actual work, and NIS 700 million for deposits, compensation to landowners, maintenance, and other items.

Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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