Shikun u'Binui Holdings Ltd. (TASE: SKBN) israeli construction unit Solel Boneh has been awarded another contract to build sections of the new barrier surrounding the Gaza strip over the coming year.
Solel Boneh successfully bid for the Ministry of Defense tender to build two sections of the Gaza barrier for a combined value of NIS 640 million. The company previously won the first tender for a section of the barrier worth NIS 220 million.
There is an overall budget of NIS 3.3 billion for construction of the Gaza barrier, which combines underground and above ground elements. Construction of the barrier, which is meant to provide a comprehensive solution to the threat posed by tunnels dug into Israel from Gaza, will begin in the coming weeks and be completed by the end of 2019.
Once construction moves into high gear, 1,000 workers will be employed on the project working 24 hours around the clock at 40 sites.
The barrier will include an underground concrete wall tens of meters deep with alert sensors. The administration in charge of the project says that each kilometer of the barrier will cost NIS 40 million with a further NIS 1.5 million per kilometer for an over-ground metal fence.
Published by Globes [online], Israel business news - www.globes-online.com - on October 23, 2017
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