Construction and real estate company Tidhar and infrastructure group Rimon have signed an agreement to form a joint venture that will bid on the Gush Dan metro's Infra 1 tenders and on building the launch shafts – the shafts through which the tunnel boring machines will be lowered underground. The total value of the tendered works is estimated at about ₪65 billion.
Tidhar will initially hold 55% of the venture and Rimon 45%. Once the tender terms and required approvals allow it, the partners intend to move to an equal 50/50 split.
The partnership brings together two kinds of capability: Tidhar, founded in 1999, is one of Israel's largest construction groups, and in June 2026 completed a Tel Aviv Stock Exchange IPO raising about ₪1.7 billion at a valuation of about ₪7.9 billion – the largest TASE IPO since Azrieli's in 2010. Rimon, listed since 2021, specializes in underground infrastructure, tunneling and water systems, and is controlled by Granot – a kibbutz cooperative representing 41 kibbutzim – together with the company's founder and CEO.
Both companies are among the 19 groups NTA cleared in early October to move on to the Infra 1 execution tenders, which cover boring some 75 km of twin tunnels and building 59 underground stations. The venture will compete against other Israeli groups and against infrastructure companies from India, China, South Korea, the United States and Europe.
Illustrative photo: Shaula Haitner / PikiWiki Israel, CC BY 2.5