Ashtrom Group Ltd. has won the NIS 750 million Israel National Roads Company Ltd. tender to plan and build the southbound section of Road 20 (the Ayalon Freeway) in Herzliya as part of the Road 531 tender. This is one of the largest road tenders in recent years.
For the purpose of the tender, Ashtrom teamed up with Vered Quarries to supply the materials and logistics for the work. The tender is part of the Road 531 lateral road between Road 6 (the Yitzhak Rabin Highway) at Kfar Saba in the east to Road 4 (Geha) and Road 2 (the Coastal Highway) by Kibbutz Rishon in the west.
Ashtrom will complete the Seven Stars Interchange, build the Maapilim Interchange linking Herzliya Pituah and Kfar Shmaryahu with Road 531's infrastructures, and will build the Shmaryahu East Interchange. It will also move the railway line along the Coastal Highway to run along the Ayalon Highway, and will build a railway interchange connecting the coastal line with the Sharon line, expand the Herzliya train station, and build the connections for Herzliya's bus rapid transport (BRT) system.
The project is supposed to ease the traffic congestion at the northern entrances to Tel Aviv, and create a traffic artery linking Herzliya, Kfar Shmaryahu, Ra'anana, and Kfar Saba with Tel Aviv with a road and rail network.
Ashtrom Construction CEO Shay Etrogi said, "This win follows the business expansion by the Ashtrom group in public and residential construction in Israel. This large and complex project will express the company's synergies and range of high skills. The company currently has a large backlog of work in all its areas of business."
Ashtrom's share price
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012