NIS 9 Billion Investment: Dania and Dan's Jtrain Ltd to Finance, Build and Operate Jerusalem's New Blue Line

Under the concession agreement, the franchise company Jtrain will be responsible for the project for a period of about 25 years and will receive a construction grant from the State of NIS 2.3 billion, to be paid in stages. The Blue Line is expected to connect the Ramot neighborhood in the north with the Gilo neighborhood in the south, along a route of about 31 km.

The franchisee is required to complete the project's financial close within 12 months of the date the franchise agreement is signed. After the financial close, a construction period of approximately 7 years will begin, in several stages. Once the first construction phase is complete, which is expected to take about 55 months, the concessionaire is expected to operate and maintain part of the project, and once all construction is complete, the concessionaire is expected to operate and maintain the entire project. The franchise period (including the set-up period) is set by the franchise agreement at 25 years.

Ofir Karni, CEO of the Dan Group, said: "There is no doubt that the establishment of the new line will lead to a significant leap forward in Jerusalem's mass transit system. Dan founded traditional public transportation in the Tel Aviv metropolitan area and has been operating it for more than 75 years, serving one million passengers every day. The public transportation industry is gradually moving into the field of light rail and mass transit. As part of implementing this strategy, Dan Makima will operate and maintain the Green Line light rail projects in Tel Aviv and the high-speed routes in Gush Dan. In addition, Dan is leading the electrification revolution in public transportation in Israel and, as a transportation company, has the largest electric fleet in Europe."