Israeli construction company to build $550M highway expansion project in Colombia’s capital

Posted on Jul 30 2014 - 12:02pm by Today News
(Phote: Sindramas)

Israel’s leading infrastructure and real estate group has won the bidding to build and operate the improvement and extension of the highway that encircles Colombia’s capital city, Bogota.

Shikun & Binui Group, a corporation rooted in Israel, won its first big project in Colombia at an estimated cost of $550 million, according to the company website.

The project, which includes a 95-mile expansion of the existing highway and will include toll booths, is scheduled to be operated by the Shikun & Binui Group over a period of 25 years.

The Israeli company has a 37.5% stake in the consortium between the Colombian government and the companies regarding the highway project, with the possibility of increasing its stake to 75%.

The Shikun & Binui Group, a member of the Arison Group owned by multi-billionaire Shari Arison, has been building projects all around the world, from road projects in Israel to Nigeria, Benin, and Guatemala, according to a company press release.

In 2012, the Shikun & Binui Group was excluded from one of the biggest equity investors in Europe, the Government Pension Fund of Norway, due to the Israeli company’s involvement in building settlements in breach of  international humanitarian law in eastern Jerusalem.

Sources

 

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