Israeli company Shikun u’Binui Holdings has won a $230m contract from the Guatemala Government to rebuild the South American country’s Franja Transversal del Norte highway.

The 300km road is part of the Plan Pueblo Panama, a development corridor running from the Mexican city Puebla to Panama.

The company said it will plan and pave the road as well as maintain it for ten years.

The planning and paving work will finish in 3.5 years.

The project is being funded with a loan from the Central American Bank for Economic Integration.