Bern: African government reverses cancellation of water deal worth about half a billion dollars

In depth

Bern reported to the stock exchange about a week ago that the African deal had been cancelled. According to TheMarker, the share price has fallen by about 14% since the cancellation. In the days that followed, company representatives met with senior officials in the country's government, who decided to withdraw the cancellation notice.

According to Bizportal, the project is a water infrastructure undertaking worth about $480 million, and the government client reversed its cancellation notice. According to Ynet, the country is not willing to publish its name, and the water will be transferred from the Chobe River.

According to Ynet, the Israeli company will build the "National Conduit," and the move will get underway. According to Bizportal, implementing the project still requires progress and agreement between the parties.