CHEC Wins Ashdod Port Gig
- Business & Finance
China Harbour Engineering Company (CHEC) has won the contract to build a new port in Ashdod.
This new port, worth $930 million, will be built about 1km north of the current Ashdod Port, consisting of a 1,000m pier and 2,80m breakwater.
Prime Minister Benjamin Netanyahu, made the following remarks at the signing ceremony for the new port in Ashdod:
“There is a very major change here for the citizens of Israel. First of all we are developing the Ashdod port. We are talking about something with vision for the future. We are joining Ashdod with the arteries of global trade, and the link from Eilat, which will be carried out via rail, also the link to the Suez Canal and the trade that emerges from it, this will be a great engine for growth not only in Ashdod but for the State of Israel.”
“This has very major implications. As we open Ashdod to global trade we also increase employment in Israel. We also create further competition which lowers prices. When there is more competition prices go down and jobs are added. This is good for the Israeli economy and for Israeli citizens, as well as for Israel’s place on the global trade map,” added Netanyahu.
According to the officials, the construction of the port is scheduled to start at the end of the year and will take about seven years to complete.
CHEC is also a candidate to build the cross-Negev railway, which will begin in Eilat and/or Aqaba in Jordan and terminate at the new port in Ashdod.