The Israeli Cabinet approved the construction of a railway line from Tel Aviv to Eilat. The 350-kilometer line will be for passengers and freight and is due to shorten travel time to a mere two hours.
The project is due to begin operations five years from the start of construction.
According to the decision, a team chaired by Prime Minister's Office Director-General Harel Locker will consider three alternatives for financing the project: An inter-governmental agreement between Israel and another government with which there are economic and strategic interests; establishing the project in cooperation with the private sector; or funding from the state budget.
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