Israel to Invest $33B in Infrastructure Projects

View of the the new bridges on Highway 1 on the Tel Aviv-Yerushalayim Road. (Yossi Zamir/Flash90)

Israel will invest NIS 116 billion ($33 billion) in infrastructure projects through 2021, according to a new plan submitted by the government Sunday. The money will be spent on 147 projects, many of them involving road and highway creation and upgrades, along with public transportation and energy projects. The government will discuss the plan in Sunday’s Cabinet meeting.

Of the money allocated to public transportation, the majority will go towards development of the rail and subway systems in Yerushalayim, Tel Aviv and Haifa. The money will account for as much as 50 percent of the costs of building or expanding the systems. In the energy sphere, 61 percent of the money will go towards electricity projects. Fifty-eight percent of the money is to be allocated to projects in the Tel Aviv area, while 17 percent will go towards projects in the north. Ten percent or less of the money will be allocated to projects in the Negev and Yerushalayim, while 5 percent will be dedicated to projects in Yehudah and Shomron.

Commenting on the plan, Prime Minister Binyamin Netanyahu said that “Israel continues to invest and build infrastructure throughout the country. We will continue to bring the periphery closer to the center of the country for the benefit of all Israelis. We will build more roads, interchanges, train tracks and more. We will be able to better serve citizens in the areas of transportation, energy, health and much more.”