Electra wins Road 5 fast lane tender
Electra Ltd. won the tender for the Road 5 fast lane project, including toll lanes between Kesem and Glilot Mizrach interchanges and a Park and Ride facility with 3,200 spaces. Costing about NIS 2 billion, the project promises Electra an estimated profit of NIS 3.9 billion over a 25-year concession. The 25-kilometer lanes will connect to Roads 20 and 2, easing access to Greater Tel Aviv, with operations starting in 2031.
The Ministries of Finance and Transport announced that Electra Ltd. (TASE: ELTR) has won the Road 5 fast lane project tender. The project includes toll fast lanes in each direction between the Kesem and Glilot Mizrach interchanges and a Park and Ride facility with 3,200 parking spaces at the Kesem Interchange. The project is estimated to cost about NIS 2 billion. A report to the Tel Aviv Stock Exchange revealed additional details, including the company's estimated profit during the concession period of about NIS 3.9 billion. The choice was made following a competitive tender process in which five groups of leading Israeli companies participated. The fast lanes will total 25 kilometers, and the Park and Ride facility will allow drivers to leave their cars outside the Tel Aviv Metropolitan region and take a free bus. The project will connect to Roads 20 and 2, forming a continuous network of fast lanes to improve accessibility and reduce congestion. The concession period will be 25 years, including three years of construction, and the project will be operational in 2031. Electra CEO Itamar Deutscher said the win adds to a list of national projects and is part of the group's strategy to integrate infrastructure, transport, and technology.