Two Israeli Firms Form Joint Venture for Massive Metro Project Bids
Translated & summarized from Bizportal by baba
Tidhar and Rimmon have formed a joint venture to bid on Israeli Metro project tenders worth approximately 65 billion shekels. The partnership aims to secure contracts for the extensive "Infra 1" phase, involving tunnel excavation and station construction. This initiative is part of a larger metro network plan valued at around 95 billion shekels, with construction expected to begin in 2027.
The story in 6 lines · by baba
- Tidhar and Rimmon formed a joint venture for Israeli Metro project tenders worth 65 billion shekels.
- The joint venture will bid on the extensive "Infra 1" phase of the metro project.
- Initial stakes are 55% for Tidhar and 45% for Rimmon, moving to an equal split.
- The overall metro project involves 150 km of tunnels and 109 stations across 24 municipalities.
- The total value of metro tenders, including "Infra 1" and "Infra 2," is approximately 95 billion shekels.
- Construction for "Infra 1" is slated to begin in 2027.
Infrastructure companies Tidhar and Rimmon have signed an agreement to establish a joint venture that will compete for major tenders from NTA (Metropolitan Mass Transit System) for the Israeli Metro project. The combined value of these tenders, known as "Infra 1," is approximately 65 billion shekels and includes the most extensive work, such as excavating about 75 kilometers of tunnels, constructing dozens of underground stations, and building launch shafts.
Initially, Tidhar will hold a 55% stake in the venture, with Rimmon holding 45%. This share is expected to shift to an equal 50-50 split once tender conditions and approvals permit. This partnership combines one of Israel's largest construction groups with a company specializing in underground infrastructure, tunneling, and water systems.
The move follows NTA's completion of the pre-qualification stage for the "Infra 1" tenders, where 19 groups comprising 31 Israeli and international companies were approved to proceed. Notable Israeli firms that passed this stage include Electra, Danya, Shapir, Ashtrom, Menorah, Oron, and Solel Boneh.
The "Infra 1" tenders are part of a larger metro network plan estimated at 150 kilometers with 109 stations across 24 local authorities. NTA is also advancing "Infra 2" tenders, valued at around 30 billion shekels, which focus on trains, signaling, power, and communication systems. Combined, these tenders represent approximately 95 billion shekels in contracts at various stages of advancement.
Construction activities for "Infra 1" are anticipated to commence in 2027 at some stations, with preparatory work and utility relocation already underway in the Gush Dan region. The first station has already received approval, and the next step involves the execution tenders.