The Electra Bogl JV group today reported that it had won the Israel Railways systems and railway track tender on the high-speed route to Jerusalem. The tender is worth NIS 760 million. The tender deals with the planning, construction, and maintenance of the track and systems for the route. Construction will include laying 46 kilometers of track; setting up electromechanical systems that support railway operation, management, coordination, and supervision; and integration of all the installed systems.
The Electra Bogl group is composed of Electra Ltd. (TASE: ELTR), Electra Infrastructures Hofrey Hasharon, German company Max Bogl Bauunternehmung, and Swiss company Signon Schweiz. The railway infrastructure work is slated for completion in 2017, and commercial operation of the line is expected in 2018. The line is designed to carry passengers at speeds of up to 160 kilometers per hour, with 28 minutes of travel time between Tel Aviv and Jerusalem.
Two days ago, Israel Railways, managed by CEO Boaz Tzafrir, published positive results for 2014. Railway passenger journeys totaled 48.5 million, 7.5% more than in 2013. Revenue from cargo transportation amounted to NIS 169 million, up 15%, compared with the preceding year, and the rate of compliance with schedules rose to 95% in 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2015
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