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Yesterday afternoon, NTA Metropolitan Mass Transit System announced the winners of the tenders to build the second stage of the Purple and Green Light Rail line in the Gush Dan area (greater Tel Aviv). The offer from the Alstom, Dan and Electra consortium was selected for the construction of the second stage of the Green Line. The consortium formed by Shapir Engineering and the Spanish company CAF won the tender to build the Purple Line. Shikun & Binui, Egged and the Chinese companies CRCC and CRRC lost.

This morning, Electra notified the Tel Aviv Stock Exchange that, following the selection of the consortium joint venture, of which Electra owns 40.5%, it projects revenues of no less than NIS 9 billion during the reporting period. concession. This includes state construction grants, which are subject to meeting a series of milestones.

The tender is in PPP (public-private partnership) format. It covers the planning, construction, supply and financing of the Green Line and the Purple Line of the Light Rail system. The term of the concession is twenty-five years: five years of construction and twenty years of maintenance.

The Green Line is planned to connect Rishon LeZion and Herzliya via Holon and Tel Aviv. The line will have stations in the western industrial areas of Herzliya and Kiryat Atidim in Tel Aviv. In total, the line will have 63 stations, four of them underground, and will be 39 kilometers long.

The winning bidder of the Green Line tender is obliged by the terms of the tender to complete the financial closing within twelve months after signing the concession contract.

Earlier this month, Electra announced that, together with Danya Cebus, it had won a NIS 600 million bid from the water company. Mekorot for the improvement and development of dozens of water wells in various parts of Israel, for four years. Electra also won a tender from the NTA to convert lighting to LED technology and provide lighting and electrical installation maintenance services for five years. This tender also has a value of NIS 600 million.

Electra Group Chairman and CEO Itamar Deutscher said of the Green Line tender award: “This project increases our order book to NIS 30 billion, and given the urgent needs of the State of Israel for infrastructure projects substantial additions, we see the continuation of the group’s growth. in concessions and infrastructure projects in the coming years».

Electra’s share price is currently up 7.98% on the Tel Aviv Stock Exchange. Shapir Engineering is up 8.75%.

Posted by Globes, Israel Business News – – on January 31, 2022.

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