Afcon Wins Additional Contracts Worth $27 Million for Israel Railways Electrification Project

Afcon Holdings has been awarded additional work valued at approximately NIS 100 million (around $27 million) for Israel Railways' electrification project, according to a company report. This expansion increases the total value of the project to approximately NIS 560 million (around $150 million), a rise of over 20% from its previous scope. Afcon stated that there are currently no changes to the project's scheduled completion dates.

The work is part of Afcon's infrastructure division, which handles complex systems projects in transportation, energy, and electro-mechanical systems. The substations are crucial for the operation of the electrified railway network, and this project is one of several Afcon is involved in within this sector. The company is currently planning and executing ten such substations nationwide, with a cumulative value exceeding NIS 1 billion (around $270 million).

Afcon CEO Dudi Harari highlighted the award as further proof of the company's leading position in Israel for end-to-end substation execution. He emphasized Afcon's extensive experience, professional knowledge, and advanced engineering capabilities in complex, systems-intensive projects, noting the company's ongoing efforts to expand its operations and strengthen its standing in significant infrastructure and energy projects within the Israeli economy.

Afcon, established in 1945 and currently controlled by the Shlomo Group, operates across various infrastructure and technology sectors, including electro-mechanical systems, control and automation, communications, energy, and infrastructure. Beyond its traditional activities, the company is also involved in renewable energy, energy storage, and electric vehicle charging.

The current addition is an extension of existing work with Israel Railways, not a separate new deal. The cumulative work on the project has thus increased from approximately NIS 460 million to NIS 560 million, with the planned completion date remaining unchanged for now.