FC for Jerusalem Light Rail

Financing agreed following a year of negotiations

TransJerusalem J-Net, the consortium selected by the Israeli ministries of finance, transport and the Jerusalem Municipally, has reached financial close on its deal to deliver the flagship light rail project.

In August last year, the consortium, consisting of Shapir Engineering and Spain’s CAF, signed the sprawling contract that will see the new Green Line, comprising 27km of track and 53 new stations, plus various depots for the city’s Red Line delivered by 2025.

The €1bn financing will be led by Bank Hapoalim along with First International Bank of Israel, Altshuler Shaham and Migdal.

Barnea advised CAF on the deal.