Shikun & Binui gets $337M Azerbaijan deal

Israeli construction firm Shikun & Binui said on Sunday a $337 million contract it signed with Azerbaijan's transportation ministry came into effect after the Azerbaijan government secured bank financing.

The contract is for the renovation of the 4M highway in Azerbaijan. The project, Shikun & Binui's first in the country, is expected to last three years.

Shikun & Binui, formerly known as Housing and Construction, is Israel's largest construction company and is controlled by the Arison Group.

The company specializes in developing and implementing complex projects, including the design, finance, construction and operation of PPP (Public Private Partnership) projects, such as BOT and PFI.

The group focuses on transportation projects (roads, bridges, railways), construction of public buildings, and projects in the fields of water, sewage, desalination and energy. Leading projects include: Road 6 (cross-Israel Highway), Hadera desalination plant and the Carmel Tunnels project.