Israel Railways completed last week its development plan negotiation with the Ministries of Finance and Transport
At the end of the negotiating session it was indicated that Israel Railways will get a NIS 8 billion budget supplement for its development plan. Under the new agreement, Israel Railways’ development plan will be extended to 2011, in exchange for the budget supplement.
Under the newly agreed development plan, Israel Railways will receive:
- Additional NIS 2.5 billion for buying rolling stock,
- NIS 4 billion for cost overruns and for changing its method of calculating unforeseen expenses.
- NIS 300 million for a new maintenance depot,
- NIS 800 million for upgrading railroad crossings,
- NIS 600 million for preliminary planning of three future projects: a fourth track along the Ayalon Highway in Tel Aviv, the eastern line between Hadera and Lod, and a line to Eilat.