Tel Aviv light rail Green Line financing nears agreement

The Tel Aviv light rail Green Line consortium has moved closer to signing a financing agreement to build, operate and maintain the line after an inter-ministerial steering committee approved an addendum on a mutual settlement of claims between the concessionaire and the state for delays. Such an agreement is a prerequisite for the approval of financing.

The consortium that will build, operate and maintain the Green Line comprises construction and infrastructure company Electra (TASE: ELTR), Dan Public Transportation, and French rolling stock manufacturer Alstom.

The main effort to close the financing is with the European Investment Bank (EIB). Talks to close the financing are in their final stages.

The Green Line, which is due to begin operating in 2028, will be the third line in the Tel Aviv light rail network, after the Red Line, which began operating earlier this year and the Purple Line, which is due to begin operating in 2027.

The Green Line will have 62 stations stretching over 39 kilometers from Rishon Lezion in the south via Holon and Tel Aviv to Herzliya. 4.5 kilometers will be underground with four stations as well as seven bridges, five underpasses, and two operations and maintenance centers.