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1. Brief Introduction of the Project
The Tel Aviv Light Rail System in Israel was proposed a total of 8 routes (i.e. red, green, pink, yellow, purple, blue, brown and orange lines) in total length of 220km with a total investment of approx. 100 billion Shekel (exchange rate 1 USD equivalent to 3.8 Shekel). It is estimated that the passenger flow in 2030 will reach 427 million in Tel Aviv, an average daily passenger flow of 1.42 million. The red line project is in total length of 23km, inclusive of 13km long ground line and 23 stations. The west segment of the Tel Aviv Light Rail Red Line comprises civil works of 6 stations and 3 running tunnels, of which the TBM driving tunnel is in total length of 11,793 linear meters. On May 19, 2015, the project employer NTA awarded the contract to joint venture of CRTG and Solel Boneh Infrastructure Ltd., an Israel local company. Acting as leading company, CRTG holds 51% of the shares in the joint venture.
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2.Great Significance
The project is one of the largest government-concession infrastructure items since the founding of Israel. Regardless of whether it is in Israel or in the context of the Belt and Road Initiative, CRTG played important roles in the implementation of the project. The project features the largest investment scale, the most complicated construction conditions and the highest technical difficulty. The red line project is the first line of the light rail system. Five to six decades elapsed since its concept to implementation. The project has experienced many twists and turns, and has attracted the attention of several generations of Israelis. Consequent to CRTG was awarded the contract, the project has been realized a real sense of implementation. The successful completion of the project will highlight the development of Israeli transportation. The project is fully funded by the Israeli government with a total amount of 3.1 billion Shekel (approx. RMB 4.99 billion Yuan). Although the bidding process is extremely competitive. CRTG has defeated several international-renowned engineering giants such as French company VINCI and won the contract.
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In the context of the Belt and Road Initiative, the implementation of the project proved that China companies is capable of undertaking high-end market light rail item, which represents that Chinese companies participating in light rail construction in a higher level. The contract is of a “Double-European Standard Project” with full European standard design and full European standard construction that has high technical requirements. As major shareholder, CRTG occupies the leading position in the joint venture, achieved effectively full control of the project execution.
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