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Source: http://www.globes.co.il/serveen/globes/docview.asp?did=1000762276&fid=1725
Israel, China to Build Eilat Railway
(Globes) Amiram Barkat - Israel and China Tuesday signed historic cooperation agreements in Beijing to build the Eilat railway and future projects, including an inland canal port north of Eilat. The cargo rail line will link Israel's Mediterranean ports in Ashdod and Haifa with Eilat. There are also plans to extend the line to Jordan's Aqaba port. The estimated cost of the line is at least NIS 20 billion. The Chinese proposed financing part of the cost through the government-owned China Development Industrial Bank. Israel is considering awarding construction of the project to Chinese companies because of their rapid work.