Shikun and Binui unit wins $580m Nigeria road contract

Solel Boneh International will rebuild a section of the Lagos-Ibadan highway.

Shikun & Binui Holdings Ltd. (TASE: SKBN) subsidiary Solel Boneh International Infrastructures Ltd. has won a $580 million Nigerian government tender to rebuild and widen a section of the Ibadan-Lagos highway in southwest Nigeria.

Solel Boneh will rebuild an 84-kilometer section of the highway between Ibadan and Shagamu, widen the road, improve drainage, rebuild and maintain 14 bridges and overpasses to adapt it to current traffic. Payment for the project will made during the work.

The contract is due to be signed after Solel Boneh and the Nigerian government arranges financing for the project and makes a down payment.

Published by Globes [online], Israel business news - - on June 16, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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