An historic date has been reached in the Carmel tunnels project in Haifa. Project franchisee, Carmelton, has completed digging the first 1,650-meter tunnel between the Check Post and Neve Shaanan. This link is an important milestone toward the opening of the tunnels to traffic within two years.
The tunnel is Israel's longest. It is one of the four tunnels of the NIS 1.2 billion project. The tunnels are due to open to traffic by the end of 2010, and will connect the Coastal Highway (Road 2) at the southern entrance of Haifa, with the Check Post at the northern entrance, bypassing the city center. There will be an exit midway at Ruppin Road, which leads to Haifa's main neighborhoods. The route is 6.5 kilometers altogether, including 4.7 kilometers of tunnels.
Carmelton is owned in equal shares by Arison Holdings Ltd. subsidiary Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) and Ashtrom Properties Ltd. (TASE:ASPR). Construction of the tunnels began in early 2006.
Published by Globes [online], Israel business news - www.globes-online.com - on January 20, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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