Transport Ministry and Ayalon Highways Sign NIS 23 Billion Framework

Israel's Transport Ministry and Ayalon Highways signed a first-of-its-kind framework agreement covering up to NIS 23 billion for development projects nationwide and NIS 980 million for the company's operating budget. The five-year agreement may be extended twice for two years each. It establishes annual work plans, targets, schedules, milestones, performance measures and oversight mechanisms intended to improve efficiency and reduce infrastructure costs. Covered work includes mass-transit systems, fast lanes, public-transport terminals, intelligent traffic management, bicycle routes and other sustainable-transport projects.