Electra wins tender for Jerusalem's French Hill tunnels

Electra Ltd. (TASE: ELTR) has won the Moriah Jerusalem Development Corporation tender worth NIS 470 million to build the major road infrastructure works and tunnels in French Hill.

The most important highway project in North Jerusalem involves the construction of four tunnels extending for 3.5 kilometers. The tunnels beneath the French Hill, Kevarim and Coca Cola junctions will allow the free flow of traffic along Road 1 from Ramot to Pisgat Zeev and Maaleh Adumim. When completed traffic will be able to travel from Tel Aviv to the Dead Sea without passing through any traffic lights.

The main purpose of the project will be to ease congestion for residents of North Jerusalem traveling into the city.