Electra Wins $600 Million Tender to Build Fast Lane on Highway 5 in Israel

Electra has been awarded a tender to construct and operate a two-way fast lane on Highway 5, in a project valued at approximately 2 billion shekels (about $600 million), according to announcements from the Israeli Ministry of Transport and Ministry of Finance. The project includes a 25-kilometer fast lane stretching from the Kesem Interchange to East Glilot, along with an integrated transportation complex at Kesem Interchange featuring 3,200 parking spaces. The fast lane is expected to be operational by 2031.

The initiative aims to facilitate drivers coming from the east to park their vehicles at Kesem Interchange and continue into the Tel Aviv metropolitan area using dedicated, free shuttle services to major employment centers. The transportation complex will also connect to the Israel Railways Rosh HaAyin North station, enabling seamless transfers between private cars, buses, and trains.

The tender attracted five Israeli and international competitors, including Menarv Holdings and Ben-Tor, Dania Sibbus and Dan, Shapir and Meir, Shikun & Binui and Egged Holdings, with Electra ultimately winning. Electra will establish a special-purpose company responsible for financing, planning, construction, and operation of the project.

This fast lane on Highway 5 is part of a broader plan to develop a network of rapid lanes at the entrances to the Tel Aviv metropolitan area, connecting with existing and planned fast lanes on Highways 20 and 2. The goal is to create a continuous network dedicated to public and shared transportation. The project builds on a model already in place on the Ayalon Highways, where a similar fast lane on Highway 20 opened in 2011, allowing vehicles with three or more passengers, buses, and taxis to use the lane toll-free, complemented by a large park-and-ride terminal with shuttle services to Tel Aviv.