The project will be performed over four years at a cost of NIS 40 million and then over 25 years at an annual maintenance cost of NIS 2 million.
Ludan Engineering Co. Ltd. (TASE:LUDN) fully owned subsidiary Simcotec has signed an agreement with Shapir Engineering & Industry Ltd. (TASE: SPEN) to provide the overall ticketing system for the Jerusalem light rail.
The project will be performed in several stages over four years at a cost of NIS 40 million. Thereafter, annual maintenance of the ticketing system will be worth NIS 2 million over 25 years. Ludan said that the profitability of the project will be typical of the projects that it undertakes.
Last April, Shapir together with Spanish company CAF began operating and maintaining the Jerusalem light rail's Red Line. The two companies have also won the concession to build an extension to the Red Line and to build and maintain the Green Line.
The Red Line is 14 kilometers long with 23 stations between Pisgat Zeev and Mount Herzl. The line is being extended by eight kilometers, to Hadassah Ein Kerem in the south and Neve Yaakov in the north with 13 more stations. The Green Line will extend over 19 kilometers with 40 stations between the Hebrew University on Mount Scopus and Gilo.
Published by Globes, Israel business news - en.globes.co.il - on September 22, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021
Jerusalem light rail