Shikun u'Binui Holdings Ltd. (Housing and Construction) (TASE: HUCN) wholly-owned subsidiary Shikun u'Binui SBI Infrastructures Ltd. (formerly Solel Boneh International) has signed a $230 million contract with the Guatemala government to rebuild the Franja Transversal del Norte highway.
The 300-kilometer Franja Transversal del Norte highway is part of the part of the Plan Pueblo Panama, a development corridor running from Puebla, Mexico, to Panama. Shikun u'Binui SBI will plan, pave, and maintain the road. Planning and paving are due to take 3.5 years, and the company will maintain it for the following ten years. The company won the tender in April 2007.
The Central American Bank for Economic Integration (BCIE) is proving the Guatemala government a loan to finance the project.
In January, SBI signed a $200 million contract to plan and build the 85-megawatt Palo Viejo hydroelectric project in Guatemala. Construction of the plant will take about 32 months.
Published by Globes [online], Israel business news - www.globes-online.com - on October 11, 2009
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