The Inter-Ministerial Committee Tenders Committee has issued a permit for construction to begin on Road 16 - the new highway to the southwestern entrance of Jerusalem. Shapir-Pizzarotti, a joint venture of Shapir Engineering & Industry Ltd. (TASE: SPEN) and Italian company Pizzarotti will build and maintain the new road for 25 years.
With financing for the project already obtained, construction will begin immediately on the highway. The five kilometer highway will branch off from the Motza Interchange on Road 1 (Tel Aviv - Jerusalem highway) and will include two tunnels under Har Nof and Yefe Nof and new interchanges at Givat Shaul and adjacent to Shaarei Zedek Hospital.
Construction of the project is estimated to cost NIS 1 billion and the project will be undertaken on a PPP basic - Public private Partnership. Road 16 will ease congestion at the western entrance to Jerusalem and the highway is scheduled to open for traffic in late 2022 or 2023.
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