Israel's Shikun & Binui wins $550m Colombia road project

July 30, 2014 - 11:29:44 am

JERUSALEM: Shikun & Binui, Israel's largest construction group, won a deal to carry out a $550 million road project to improve and extend a highway in Bogota, the company's first large-scale project in Colombia.

As a member of the international consortium that won the tender, Shikun & Binui will build and operate a section of the toll highway for 25 years, it said on Wednesday.

The work will include expansion of an existing highway and the paving of a new segment spanning 154 kilometers (96 miles).

Shikun & Binui holds 37.5 percent in the consortium, while one of its subsidiaries, Shikun & Binui SBI, will take on a share of the project's construction and operation.

The new project in Colombia will join an orders backlog totaling more than $3 billion, of which nearly $2.2 billion relates to projects outside of Israel, it said.

Shikun & Binui is controlled by the Arison Group, the investment arm of billionaire Shari Arison.

Its shares were up 0.4 percent in morning trade in Tel Aviv. (Reuters)



comments powered by Disqus