A consortium of Israeli banks has finalized financing for the Nofit light-rail project connecting Haifa and Nazareth, agreeing to a 9.6 billion shekel contract covering construction and operations.
Trans Israel, selected in 2024 to oversee the initiative, designed the project to serve three primary population centers in northern Israel: Haifa, the Krayot region, and the Nof HaGalil and Nazareth areas.
The 41-kilometer line will feature 20 stations alongside transit terminals and park-and-ride facilities. More than 30 electric trains will operate at speeds reaching 62 mph, with service intervals of four to 10 minutes. The system is expected to accommodate roughly 100,000 daily passengers commuting to work, school, and other destinations.
The project incorporates advanced green technology powered by electricity. A bank consortium led by Bank Leumi finalized the financing agreement with Electra, Minrav, and Alstom, the private firms designated by Trans Israel to design and execute the work.
Construction experienced a one-year delay due to the ongoing war. The project is now targeted for completion in 2029.