Afcon Holdings Secures 100 Million NIS Additional Works for Railways
Afcon Holdings has secured an additional 100 million shekels in railway substation works from Israel Railways, bringing its total project scope to 560 million NIS.
Afcon Holdings Group, one of Israel's leading companies in complex technology and systems projects, announced this morning (Wednesday) that Israel Railways has approved an additional-works contract for its wholly-owned subsidiary for railway transformation substations, valued at approximately 100 million shekels.
Following this approval, the total scope of work for Afcon Holdings Group in the project has reached approximately 560 million NIS. As of the reporting date, there are no changes to the scheduled completion dates.
Dudi Harel, CEO of Afcon Group, stated: "The approval of additional work in Israel Railways' transformation substation project is further proof of Afcon's ability to be the leading and dominant player in Israel for end-to-end substation execution."
Harel added: "Afcon has extensive experience, professional knowledge, and advanced engineering capabilities in executing complex, system-heavy projects, and we continue working to expand our activity and strengthen our position in significant infrastructure and energy projects in the Israeli economy."
Harel concluded: "Afcon is currently planning and executing ten transformation substations nationwide with a total scope exceeding one billion shekels."
