Keystone Infra Offers Public Access to Israeli Infrastructure Projects

Keystone Infra, a publicly traded infrastructure investment company and member of the TA-90 index on the Tel Aviv Stock Exchange, manages assets across transportation, energy, renewable energy, data centers, telecommunications, and water. The company holds a controlling stake in Egged, Israel's largest public transportation company.

It also operates under public-private partnership agreements that include Build-Operate-Transfer contracts for projects such as toll roads, bridges, and power plants.

Bar, CEO and co-founder of Keystone Infra, said the firm receives roughly NIS 300 million annually from its subsidiaries and infrastructure projects. He added that the company maintains a loan-to-value ratio of 26 percent, which supports further acquisitions without an immediate capital raise.

Bar described a three-layer model. The first layer consists of operating assets that generate stable cash flow under long-term government agreements. The second layer focuses on improving efficiency and profitability of existing assets through operational changes.

The third layer involves developing new projects from the ground up, such as the Sorek power plant near Rehovot, which carries higher risk but greater potential returns.

Bar said Israel's population growth since 1948 has created a continuing need for new infrastructure. He identified transportation as the most critical current challenge, noting persistent traffic congestion throughout the day. He stated that increased investment in buses, trains, and dedicated public transit lanes would be required to shift usage away from private vehicles.

Bar also pointed to rising electricity demand from population growth and data centers as a second major planning issue for regulators.