Shafir Engineering turns to the bank even before it is named the tender winner.
Sources inform ''Globes'' that Shafir Civil and Marine Engineering Ltd. has opened preliminary negotiations with Bank Leumi (TASE: LUMI) to finance the construction of Road No. 531. The bank is expected to head a syndicate to finance the NIS 3 billion project.
Shafir opened talks with Bank Leumi even before it has been declared the winner in the tender. However, as "Globes" reported yesterday, an analysis of the financial bids in the tender indicate that Shafir leads with a bid of NIS 2.4 billion.
Last year, Bank Leumi financed a project Shafir won in the tender to build a fast lane at the entrance to Tel Aviv.
Published by Globes [online], Israel business news - www.globes-online.com - on February 25, 2008
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