Home / EMEA / Israel Railways receives EUR 2.4 bn to finance its new operating agreement

Israel Railways receives EUR 2.4 bn to finance its new operating agreement

Israeli government approved an NIS 11.7 billion (EUR 2.4 bn) budget transfer to Israel Railways to finance its new operating agreement.

“We aim to reach 70 million passengers in 2020, and increase the length of track from the current 1,100 kilometers to 1,700 by 2020. We currently have 402 trains a day, and from mid-June, we’ll have 450 trains a day, and we’ll have 860 trains a day in 2020. We’re working hard on a new corporate culture, restructuring, empowering managers, and improving the product. The new attitude is administrative-business and operational oriented; reform throughout Israel Railways’ administration” said Israel Railways CEO,  Boaz Tzafrir.

“Our cargo target is to increase cargo from 6.2 million tons in 2013 to 14.3 million tons in 2020, which will boost cargo income from NIS 146 million to NIS 256 million”, he added.

Source*http://www.globes.co.il

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