Electra Wins 2 Billion Shekel Contract for Major Highway 5 Fast Lane Project

The Israeli Ministries of Finance and Transportation announced that Electra Ltd. has won the tender for the fast lanes project on Highway 5. The project involves constructing a two-way fast lane between the Kesem Interchange and East Glilot, along with an integrated transportation complex featuring approximately 3,200 parking spaces at Kesem Interchange. The investment is estimated at around 2 billion shekels. Electra projects a revenue of about 3.9 billion shekels over the 25-year concession period.

The competitive tender included five leading Israeli and international consortia, such as Dania Sibus and Dan, Menarv Holdings and Ben-Tor, Shapir and Meir, Shikun & Binui and Egged Holdings, and Electra. The fast lane will span a total of 25 kilometers and will connect with existing fast lanes on Highways 20 and 2, creating a continuous network to improve access to the Tel Aviv metropolitan area and reduce congestion. The transportation complex will also link directly to the nearby Rosh HaAyin North train station, facilitating convenient transfers.

The toll lane network on the highway will cover approximately 15 kilometers. The concession includes a three-year construction phase, with operations expected to begin in 2031. The tender was managed by an inter-ministerial committee led by Oshrat David-Deker, Deputy Senior Accountant General, with representatives from the Ministry of Transportation and Road Safety, Ministry of Finance, Netivei Ayalon Company, and the government company Inbal.

Electra CEO Itamar Deutscher expressed pride in adding this project to the company’s portfolio of national infrastructure projects. He emphasized that the Highway 5 fast lane project aligns with Electra’s strategy to integrate infrastructure, transportation, and technology, building on their previous successes with the congestion toll project and the Highway 20 fast lanes.