Jerusalem's Calatrava bridge cost rises by over NIS 70m

Moria Jerusalem Development Company will publish a revised tender for the bridge at the western entrance to the city, part of the Jerusalem light rail project.

Sources inform “Globes” that the cost of the bridge designed by architect Santiago Calatrava for the Jerusalem light rail has risen by least NIS 70 million. Moria Jerusalem Development Company Ltd., which is managing the project, will publish a revised tender for the bridge at the western entrance to the city.

Moria cancelled the first tender documents for the bridge, which were based on a cost of NIS 100 million. Two factors are blamed on the rising cost: engineering changes to the original plan, and a 40% hike in steel prices.

The cost of the bridge is now estimated at over NIS 170 million. Ministry of Transport sources say that the cost could even exceed NIS 200 million. The joint tenders committee comprising the Jerusalem municipality and the Ministries of Finance and Transport will hold an urgent meeting on the matter this week.

Five companies are participating in the first stage of the bridge tender: Minrav Holdings (TASE:MNRV), Ramet Ltd., Malibu Israel, Roichman Bros. (Shomron) Infrastructure Ltd., and Shafir Civil and Marine Engineering.

No decision has yet been taken on which companies will pass the screening stage to the bidding stage of the tender.

The bridge is part of the first line of the Jerusalem light railway.

Published by Globes [online] - - on October 18, 2004

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