Electra will build the storage station in Menara – the capital market

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The storage station pumped at the Menara cliff in the north for about NIS 1.13 billion. Electra estimates that the construction will begin in the coming weeks with the approval of the Electric Company and that the duration of the project will be 63 months (about five years).

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The project will be carried out by Electra through its subsidiary Electra Infrastructure, and the contract with Alumi is made after the latter has completed the financial closure of the project. This involves the construction of a 156-megawatt hydraulic power plant. Prior to receiving the project, Electra’s accumulated work at the end of the third quarter amounted to NIS 17 billion.

Apart from the Menara project, Electra Infrastructure is the founder of the underground parking lot at the entrance to Jerusalem, a project estimated at NIS 320 million, and is also carrying out infrastructure work for Rail 431 for Israel Railways (NIS 385 million), expanding the sewage treatment plant in Gush Dan (approx. NIS 605 million) and as part of the highway project, adds a lane on Road 20 (approximately NIS 430 million).

Alumi owns 75% of the project through subsidiaries, while the rest is held by Ampa through the seven-company company. Alumi has just reported the financial closure of the project, including a bank


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Will lead the financing when it puts NIS 1.18 billion in a plan that includes senior debt with collateral at a fixed interest rate, linked to the consumer price index.

The loan will be repaid after 19.5 years from the date of operation, with the weighted average annual interest rate spread being approximately 3.3% during the construction phase and approximately 2.5% during the commercial activity phase. The period of construction and operation is estimated at about 26 years.

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