The Israeli government has approved nationalizing the Tel Aviv metro light railway project in hopes of jump-starting the estimated $3-billion project after five years of delay. Two months after canceling a private consortium’s proposal, the government says it will finance construction from the state budget. The state-owned Metropolitan Mass Transit System Co. will oversee the project. The 22-km line will link Petah Tikva north of the city to Bat Yam in the southwest. About $390 million in route planning and design is set for completion by the end of 2011. The rail line, now expected to be completed in 2017, would be the largest transport project in the country.
Israel Government Will Finance And Run $3-Billion Tel Aviv Line
December 22, 2010