/By Ilan Shavit/
Shari Arison’s Shikun and Binui Construction Group announced today that its infrastructure subsidiary Solel Boneh International Infrastructures Ltd. (“SBI”) has been awarded a tender by the Government of Nigeria for the rebuilding and widening of a major section of the Ibadan-Lagos highway in the southwestern part of the country.
Solel Boneh has been selected to rebuild an 84-kilometer section of the highway between Ibadan and Shagamu, where it will widen the road, improve drainage, rebuild and maintain 14 bridges and overpasses to adapt it to the denser levels of traffic that are coming with the development of the region.
Progress payments for the project will made as work proceeds and the contract is due to be signed after Solel Boneh and the Nigerian Government arrange financing for the project and a down payment is forthcoming. The contract is worth US$580 million.
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“We bring expertise to the specific markets we serve while applying core competencies and skills to all our work” – Yehuda Elimelech, Managing Director.
SBI is a diversified conglomerate with a strong presence in the international construction industry, part of the Shikun & Binui Group, and a widely respected reputation for performance, reliability and innovation. Established in 1958, SBI is a key player in all areas of civil engineering, development and construction, with a project listing featuring hundreds of landmark projects around the globe.
About Shikun & Binui
Shikun & Binui is Israel’s leading infrastructure and real estate group. The Group’s companies are involved in large-scale projects in Israel and abroad, and have proven achievements in the construction of residential neighborhoods and commercial and public buildings, as well as in the establishment, financing and operation of huge ventures in the fields of transportation infrastructure, ecology, water purification and desalination, and international project development.
The Group’s success in Israel and worldwide, including in developing countries, and the rich experience it has accumulated, enable it to expand its activity beyond the traditional fields in which it formerly operated. The reputation and experience acquired by the Group in project implementation have enabled it to win various international tenders, many of which are funded by the World Bank and by other international financial institutions.