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Article: Tel Aviv light rail concession signed: The Knesset Finance Committee approved the state's commitment to award MTS a NIS 7 billion set-up grant.
- Article from:
- Globes
- Article date:
- May 28, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lior Baron
May 28--The state and the MTS consortium, led by Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK), today signed the franchise agreement for the construction of the first line of the Tel Aviv light railway. The agreement was signed five months after MTS won the tender for the light railway.
The agreement was reached after the Knesset Finance Committee approved the state's commitment to award MTS a NIS 7 billion set-up grant, amounting to 70 percent of the project's cost. The agreement stipulates that MTS will have six years to build the railway line, including planning, and that work is scheduled to be completed by the ...