Arison unit Shikun u'Binui to build �1b Montenegro highway

Shari Arison-controlled Shikun u'Binui Holdings Ltd. (TASE: SKBN) subsidiary Solel Boneh International Ltd. and a European partner have been notified by the Montenegrin government that they are the preferred bidder in a �1 billion tender to finance, plan, build, and operate a toll road in the country.

The 170-kilometer toll road will run from the Adriatic Sea port of Bar to Boljare on the Serbian border. The companies will have a 30-year operating franchise to operate the road. This is the largest infrastructure project in Montenegro's history and the country's first public-private partnership (PPP).

The Montegrin project is the latest road project announced Solel Boneh International. It follows $210 million road project in western Kenya and a $337 million project in Azerbaijan.

The final contract is subject to negotiations between the consortium and the Montenegrin government.

Published by Globes [online], Israel business news - www.globes-online.com - on March 7, 2010