TransIsrael Advanced Transportation Solutions and the Ministry of Transport have announced the winning bid for the tender to build and operate the Haifa-Nazareth Light Rail Transit System. The consortium of French conglomerate Alstom, Electra Ltd. (TASE: ELTR) and Minrav Group (TASE: MNRV) will build andf operate the Nofit light rail, which is due to be completed by 2027.
The consortium beat two other bids from: Shikun & Binui (TASE: SKBI) and Egged; and COSMA, Dan and Danya Cebus (TASE: DNYA). The tender winner will design, build, supply and install all the project's railway systems, procure railcars, and operate and maintain the light rail for 25 years. Operating the line should generate NIS 13 billion for the consortium.
The Nofit light rail line will extend over 41 kilometers with 20 stations, Park and Ride car parks along the route, a depot complex and a control center. Over 30 light rail trains will operate on the line with a maximum travel frequency of every 4 minutes, and 100,000 passengers are expected to travel on it daily, at a planned travel speed of up to 100 kilometers per hour.
On a transportation level, the Haifa-Nazareth-Nof Hagalil project is deeply controversial. Just two months ago, the Ministry of Finance proposed canceling the tender and converting the project to a rapid transport bus service like the Metronit in Haifa, thus saving the economy more than NIS 2 billion. This, in view of the fact that the number of passengers on the line has been cut in two stages since the project started and in view of the poor planning of the locations of the stations that are far from population centers. In the end the proposal was dismissed, the tender bid envelopes were opened and the winners have been announced.
Published by Globes, Israel business news - en.globes.co.il - on February 21, 2024.
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