Polar Investments is part of the City Pass consortium that won the tender to build and operate Jerusalem's light rail project. The company has a BOT franchise with the State of Israel for 3 years of construction and 27 years of operation. 70 completed in Sep. 2010.
The financial extent of the project is estimated at NIS 2.2 billion. According to the conditions of the franchise agreement, the state is obligated to pay City Pass grants for building the projects, for a total of €263 million and NIS69 million.
The consortium consists of five companies: Polar 17.5%; Ashtrom 27.5%; Harel group 30%, Elstom 20%, and Connex 5%.
http://www.citypass.co.il
