Shikun & Binui gets new USD 309m contract for airport in Uganda

Shikun & Binui Ltd. (TASE: SKBN.TA) has announced that it has secured a new contract to build an airport in Uganda, the company said.

The project will be located in a rural area of the oil-drilling region near Hoima and Lake Albert in northwestern Uganda. According to the contract, SBI, Shikun & Binui´s international construction arm, will construct the airport to support the development of the region´s oil industry.

The construction phase of the project is expected to last for three years, with the total paid to SBI over the course of the work estimated at approximately USD 309 million. The project will be financed by the British government (UKEF) and by a commercial bank.

The Shikun & Binui Group is a global construction and infrastructure company that operates in Israel and internationally in seven segments: 1) infrastructure and construction contracting outside of Israel; 2) infrastructure and construction contracting within Israel; 3) real estate development within Israel; 4) real estate development outside of Israel; 5) renewable energy;and 6) concessions. The Group´s activities focus on large, highly complex projects carried out for entities in private and public sectors with a focus on sustainability.