National Infrastructure Minister Binyamin Ben-Eliezer announced recently that he plans on demanding additional funding, to the cost of NIS 3 billion (approx. $886 million) in order to reinforce the infrastructure of old public buildings throughout Israel and
bring them up to code.
In light of the recent earthquakes felt
throughout Israel, an analogous plan has been formed to revamp the infrastructure of old, public-housing buildings, as a precautionary measure.
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The venture will take place in the southern Israeli city of Eilat, which is considered a high-risk area for large-scale earthquakes, given its geographic location, which places it adjacently to the Great Rift Valley.
Avi Meses, CEO of A.M. Blue Project and Reinforcement Management, which was contracted by the Eilat Municipality for the earthquake reinforcement project, and has revamped the infrastructure of five public-housing buildings in the past two years, says the city has a great potential for urban rejuvenation.
"The city benefits from the restoration, the residents are getting a renovation they probably couldn’t afford otherwise and the contractor profits for the additional housing units he can build," he says.
Meses estimates that his company will invest about NIS 4 million (approx. $1.18 million) in the project. The return on the investment is expected to be about NIS 11 million ($3.25 million).
Eilat Mayor Meir Yitzhak said that he "welcomed launching a of a TMA-38 project in the city. I hope the government really comes through on the matter."
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