A consortium comprising Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) and Austria’s Strabag AG (ATX:STB is the preferred bidder in a $530 million Kenya government road tender. The tender is for the planning, financing, construction, of a 100-kilometer toll road in Nairobi and its operation for a 30-year franchise period.
Housing and Construction, a subsidiary of Arison Holdings Ltd., and Strabag own the consortium in equal shares.
Housing and Construction CEO Uri Shani said, “The Kenyan toll road project is part of the company’s strategic targets. The company aims to expand its international activity, both in countries where it currently operates and in new ones, with a focus on large infrastructure projects. The company’s experience in large BOT projects gives it an edge.”
Housing and Construction carries out international infrastructure projects through Solel Boneh Building and Infrastructure Ltd. subsidiary Solel Boneh International Ltd. Housing and Construction rose 0.6% in morning trading.
Published by Globes [online], Israel business news - www.globes.co.il - on September 11, 2007
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