Israel’s northern light-rail project gets financial boost

A consortium of Israeli banks, led by Bank Leumi, has finalized a 9.6 billion shekel (approximately $3.1 billion) financing agreement for the Nofit light-rail project in northern Israel. This project, advanced by the government company Trans Israel, aims to connect Haifa, the Krayot region, and Nazareth, serving an estimated 100,000 daily passengers. The 41-kilometer (25.5-mile) line will feature 20 stations and utilize electric, green technology. Despite a year-long delay due to the ongoing war, the agreement with private firms Electra, Minrav, and Alstom has been signed, with completion now anticipated in 2029.