Shikun & Binui Holdings Ltd. (TASE: SKBN) fully-owned unit Bereshit Ofek Rahav has been selected by the IDF Tenders Committee for moving army bases to build and operate the Ofek Rahav army base in Ramle. The company will plan, build and operate the base over 25 years.
The Ofek Rahav base will be the IDF's largest multi-division base and will include the IDF Induction Center (Bakum), IDF Ground Forces Command, Technology & Logistics Division units, and the Manpower Division as well as an advanced medical center, commercial centers, car parks, sports facilities and bicycle tracks.
The 360 dunams (90 acres) base will have room for 9,000 soldiers and army personnel and 5,000 visitors on a daily basis.
Shikun & Binui estimates that the base will cost NIS 2.4 billion to build and will result in NIS 4 billion in payments to the company. Bank Hapoalim will provide NIS 1.3 billion financing to Shikun & Binui, which will receive milestone payments for completion of the various stages of the project.
Shikun & Binui CEO Tamir Cohen said that the company was proud to be leading the construction and management of IDF bases in the Negev and central Israel and that Ofek Rahav joins the major works backlog of its Solel Boneh unit.
Published by Globes, Israel business news - en.globes.co.il - on October 26, 2022.
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