The ministers of finance & transport approved last week the 2005 ports development budget of NIS 1.76 billion.
According to Israel Ports Development and Assets company out of the NIS 1.76b. budget, NIS 921m. will be invested in completing the first part of the Port Eitan Project at Ashdod Port.
Another NIS 500m. of the NIS 1.76b. will be invested in the first part of the NIS 1.2b. Carmel project in Haifa, the work for which is expected to start this month. The company added that it expected to spend a total of NIS 700m. this year, with NIS 330m. having already been invested.
The spending plan is part of Israel Ports' overall multi-year NIS 5b. program, with 80% of the budget just approved to go on two major infrastructure projects at Ashdod Port and Haifa Port.
The directors of the company added that the company had also allocated NIS 207m. for other infrastructure projects in Haifa, including NIS 85m. to extend existing container terminals, NIS 22m. for Ashdod and NIS 7m. for Eilat. Additional NIS 76m. will be invested in the computer infrastructure of the ports in order to upgrade the systems.
