No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 1, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Can Hyundai fill Metro vacuum created by China’s exclusion?

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 4 mins read
A A
Can Hyundai fill Metro vacuum created by China’s exclusion?
Share on FacebookShare on TwitterShare on LInkedIn


Last week, it looked like the Jerusalem light rail Blue Line project had screeched to halt, after the Ministry of Finance accountant general canceled an agreement by the winning consortium of Dan and Danya Cebus (TASE: DNYA) to procure carriages from Chinese company CRRC. This followed US pressure to avoid dealings with the Chinese state-owned company.

The consortium turned to the Chinese after Polish company PESA withdrew from the project last year, due the increasing risk of doing business with Israel and the downgrade of its credit rating. So as not to delay the project, funding for the civil engineering work has been approved in the meantime, and it has been decided that within six months procurement of carriages will be arranged through a new tender.

The consortium chose the Chinese supplier after receiving a more expensive bid from Korea’s Hyundai Corp. (a subsidiary of Hyundai Engineering and Construction). Following talks, Israeli government officials were also under the impression that Hyundai was not eager to embark on operations in Israel due to the war.

Towards the close of the tender process, pressure from elements in the US government had begun to increase, along with the lack of decision-making by the Shin Bet and the National Security Agency on the issue of Chinese involvement in infrastructure. When CRRC competed with Egged and Shikun & Binui for construction of the Tel Aviv light rail construction Green and Purple Lines, the bid failed not because of Chinese involvement, but because it did not meet economic viability tests. The tender committee believed that it was a sloppy bid, which had no feasibility and would later cost the state huge extra sums to complete the project.

Rehearsal for the struggle to build the Metro

The excuse the state found for quashing the bid allowed it to avoid declaring an official policy on Chinese participation in infrastructure projects due to US opposition. But while Chinese companies are essentially blocked from building Israeli projects, industry sources believed that they could still compete as suppliers to construction companies.

Last year following assertions against Chinese tender involvement by Minister of Transport Miri Regev during a visit to India, the Ministry of Finance responded sharply at the time, stating that “there is no policy decision that disqualifies certain countries.” But last week the same ministry was forced to rule otherwise. Now one of the solutions that is emerging is to transfer the production of the carriages to a CRRC factory in the US. But this fight over the procurement of the carriages is just a rehearsal for the fights over construction of the enormous Metro project.

Examining entry into infrastructure projects in Israel





RELATED ARTICLES




Egged wins tender to operate TA light rail Purple, Green Lines


Jerusalem light rail extension to open this month


Tel Aviv light rail construction plagued by delays


Int’l cos reluctant to bid for new TA light rail tenders






The representative of the Chinese companies when they entered Israel’s infrastructure sector was Shaul Bitterman. He now threatens to end their activities in Israel. Bitterman now represents other companies from India and Korea, including Hyundai. Despite the impression that government officials in Israel had about Hyundai’s intentions, the Korean company sent a series of letters before the decision was made to approve the purchase of the carriages, expressing support for the Israeli project and desire to participate in it, even though its bid was higher.

According to industry estimates, Bitterman brought Hyundai’s bid to the attention of the US, stressing that if there is an alternative, why do business with China? The US administration exerted its weight on the issue and forced Israeli government officials to postpone the decision. Even if the Chinese ultimately supply the cars to Jerusalem through US factory, Hyundai Engineering intends to enter infrastructure projects in Israel and compete in the tenders that will be published next year for the Metro excavations.

Delegations to India and South Korea

Delegations of Israeli government officials have traveled to India and South Korea in the past two years to convince these companies to come to Israel. Hyundai’s market cap is $32 billion, and it is involved in dozens of infrastructure projects around the world – its entry into Israel would be competition for European rivals.

However, according to government sources, the market segment examination of companies working and interested in Israel in preparation for the announcement of the Metro tenders still reveals a severe shortage of engineering personnel. To dig 300 kilometers of subway tunnels under 24 municipalities in the Tel Aviv metropolitan region, it is necessary to operate 22 TBM machines that dig underground and line the tunnels with concrete. At the same time, there is a single-digit number of companies operating in Israel that compete in the infrastructure market, and they are also busy with other projects, although in any case, knowledge of international companies is required.

Some are concerned that Israeli government policy towards the Chinese is intended to satisfy US strategy, not Israeli strategy, since the country will have difficulty finding alternative personnel in the fields of civil engineering, even if companies from India and South Korea come to Israel.

Published by Globes, Israel business news – en.globes.co.il – on April 22, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.




Source link

Tags: ChinascreatedexclusionFillHyundaiMetroVacuum
ShareTweetShare
Previous Post

Bollywood’s Baba Vanga! Shakti Kapoor’s 35-year-old prediction on gold hitting Rs 1 lakh goes viral

Next Post

TASE outperforms global markets in 2025

Related Posts

edit post
AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

by TheAdviserMagazine
October 1, 2025
0

The so-called “godfather of AI”, Yoshua Bengio, claims tech companies racing for AI dominance could be bringing us closer to...

edit post
Conagra Reaffirms Outlook Even As Tariffs Add To Inflation

Conagra Reaffirms Outlook Even As Tariffs Add To Inflation

by TheAdviserMagazine
October 1, 2025
0

Conagra Brands Inc. (NYSE:CAG) on Wednesday posted first-quarter fiscal 2026 results that topped Wall Street expectations but showed year-over-year declines....

edit post
US markets regulators start shuttering as government shutdown cuts federal funding

US markets regulators start shuttering as government shutdown cuts federal funding

by TheAdviserMagazine
October 1, 2025
0

U.S. market regulators began the process of furloughing workers on Wednesday as the federal government shut down after Congress failed...

edit post
I’m the CEO of an AI startup that finds blind spots in visual data. If missed, it can cripple your AI models

I’m the CEO of an AI startup that finds blind spots in visual data. If missed, it can cripple your AI models

by TheAdviserMagazine
October 1, 2025
0

Every company wants to make breakthroughs with AI. But if your data is bad, your AI initiatives are doomed from...

edit post
SIPs for first-timers, lumpsums for veterans in JioBlackRock Flexi Cap Fund: Rishi Kohli

SIPs for first-timers, lumpsums for veterans in JioBlackRock Flexi Cap Fund: Rishi Kohli

by TheAdviserMagazine
October 1, 2025
0

Amid current economic indicators and shifting geopolitical dynamics, Rishi Kohli, CIO of JioBlackRock Mutual Fund, recommends that first time investors...

edit post
MODEC secures full EPCI contract to deliver FPSO for Hammerhead project

MODEC secures full EPCI contract to deliver FPSO for Hammerhead project

by TheAdviserMagazine
October 1, 2025
0

MODEC has secured the full engineering, procurement, construction and installation (EPCI) contract to deliver a floating production, storage and offloading...

Next Post
edit post
TASE outperforms global markets in 2025

TASE outperforms global markets in 2025

edit post
Trump says tariff revenue could replace income taxes. Why economists disagree.

Trump says tariff revenue could replace income taxes. Why economists disagree.

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Spotify founder Ek to step down as CEO to focus on long-term strategy

Spotify founder Ek to step down as CEO to focus on long-term strategy

0
edit post
Financial Planning Doesn’t Have to Be Intimidating

Financial Planning Doesn’t Have to Be Intimidating

0
edit post
A Student’s Guide to Success: Six Strategies to Reduce Team Conflict – Faculty Focus

A Student’s Guide to Success: Six Strategies to Reduce Team Conflict – Faculty Focus

0
edit post
Dollar claws back losses from U.S. government shutdown, turns higher

Dollar claws back losses from U.S. government shutdown, turns higher

0
edit post
US markets regulators start shuttering as government shutdown cuts federal funding

US markets regulators start shuttering as government shutdown cuts federal funding

0
edit post
Shutdown, Clampdown, Clownshow or Horror Movie?

Shutdown, Clampdown, Clownshow or Horror Movie?

0
edit post
Dollar claws back losses from U.S. government shutdown, turns higher

Dollar claws back losses from U.S. government shutdown, turns higher

October 1, 2025
edit post
Financial Planning Doesn’t Have to Be Intimidating

Financial Planning Doesn’t Have to Be Intimidating

October 1, 2025
edit post
Shutdown, Clampdown, Clownshow or Horror Movie?

Shutdown, Clampdown, Clownshow or Horror Movie?

October 1, 2025
edit post
XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

October 1, 2025
edit post
AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

October 1, 2025
edit post
AI Agents Have Entered the Real World

AI Agents Have Entered the Real World

October 1, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Dollar claws back losses from U.S. government shutdown, turns higher
  • Financial Planning Doesn’t Have to Be Intimidating
  • Shutdown, Clampdown, Clownshow or Horror Movie?
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.