Israel-based infrastructure firm Shikun & Binui has secured financing for the Cundinamarca 010 Toll Road Project in Colombia.The $640M project, part of a multinational plan to improve the country's road infrastructure system, includes the financing, construction, rehabilitation, operation and maintenance of a toll road that will span over nearly 154km.Shikun & Binui's subsidiary SBI, will provide construction services for the project agreed with the Government Infrastructure Authority at the Colombian Ministry of Transportation (ANI). The concession has tenure of 25 years, with an option to extend up to 29 years.Shikun & Binui chairman Moshe Lahmani said: "The financial closing of the project in Colombia is an additional significant milestone in realizing the Group's international strategy to expand its international infrastructure activity, and diversify its global operations."The completion of the financial closings in the USA and now in Colombia will contribute to the Group's record backlog. We will continue to compete for new mega projects in line with our strategic targets."
Israel-based construction firm Shikun & Binui has completed the fundraising for the planning, construction and maintenance of a proposed express lane in the Houston Metropolitan area in Texas. Financial closing for most of the $1bn project and the initial drawing of funds is likely to take place during the next several weeks, subject to the fulfilment of a number of customary terms set out in the financing agreements, including the receipt of the final approval of the project's bond offerings from the Texas legislature.The project’s concessionaire, known as the Blueridge Transportation Group, has committed to build, finance, maintain and operate the portion of the road defined in the contract for 52 years, including the construction period In return, the concessionaire will be given the right to collect tolls from users of the Express Lane.Shikun & Binui’s chairman Moshe Lahmani said: "The completion of this project's financial closing is another key step in our 'go international' strategy, whose goal is to diversify and expand the geographic scope of our operations, and enter the American market."The US is a sophisticated, competitive market, and the choice of Shikun & Binui confirms the excellence of our capabilities and the high level of professional and know-how that we bring to complex infrastructure projects. We intend to further deepen our activities throughout the Americas in general, including the US, Colombia and other Latin American countries."Work on the project is expected to last for three years.
Israel-based construction firm Shikun & Binui has selected the Noy Fund and the TSK Group to build the Ashalim thermo-solar power plant in Israel. Noy Fund and the TSK Group will replace Abengoa as constructors of the solar power plant. However, Abengoa will continue to serve as one of the project's sub-contractors in a limited capacity.The plant is expected to generate 110MW of power that will be sold to the Israel Electric Company under a 25-year deal, beginning once the plant becomes operational.Some of the world’s most advanced technologies will be used in the power plant, including an energy storage facility that will enable electricity production to continue uninterruptedly, even during cloudy days and at night time.During the construction phase, the project will employ hundreds of engineers, technicians, construction workers and service providers.The project, estimated to cost $1.1bn, will continue to move forward in line with its original timetable with completion expected in 2018.