Bitum Petrochemical Industries will be paid $3 million for the first of three railway lines to be constructed.
Delek Group (TASE: DLEKG) subsidiary Bitum Petrochemical Industries has won an international tender to waterproof the tunnels for a Ukrainian subway. Bitum’s work on the line, which is 12 kilometers long and 15 meters wide, will take three years. Fifteen international and Ukrainian companies submitted bids in the tender.
Bitum will be paid $3 million for the first of three railway lines to be constructed. Bitum will supply the Ukrainian subway company with materials made of flexigum, a spray-on sealant; spraying equipment; and technical consultancy, through Bitum’s Ukrainian branch, established two years ago.
Bitum general manager Amos Hareli said that this was the second year in which Bitum was exporting products to the Ukraine. Up until now, Bitum has exported sealing materials for the private construction industry; the current tender is the first that Bitum has won in the Ukraine.
Bitum currently exports to ten other European countries.
Published by Globes [online] - www.globes.co.il - on March 28, 2004