Israel’s biggest construction firm, Housing &Construction Holding Co. (HCH), announced its Solel Boneh International unit signed a contract worth US$95 million to help build a hydroelectric plant in Guatemala.
HCH said Solel Boneh signed with a private entrepreneur to execute civil engineering projects on the 94-MW hydroelectric plant. Solel Boneh said it is its third hydroelectric project in Guatemala in the past five years and the biggest so far.
To be completed in 2.5 years, the project includes construction of a diversion dam and 700,000-cubic-meter reservoir, excavation, building of a five-kilometer tunnel, and placement of a kilometer-long water pipe.
The contract is subject to financial closure between the financing bank and the third party, expected no later than April 1.