With Ilan Mosnaim
Housing & Construction (TASE:HUCN) will on Wednesday next week be signing an agreement with the Czech government to build an 80-kilometer toll road, at a cost of almost a billion dollars.
H&C, which is controlled by its workers and the Arison group, has five to seven years to build the highway connecting between two major cities in eastern Czechia.
The cost of building the road is estimated at $919 million ¿ 30 billion Czech koronas. H&C also won the right to operate the road over 30 years, during which time it stands to receive some $3.8 billion ¿ 125 billion koronas - more from the Czech transport authority. That comes to $1.27 billion a year.
H&C ended the first quarter on revenues of NIS 934.1 million, on which it netted NIS 10.9 million.