Tel Aviv, Aug. 15 -- Israeli Finance Minister Bezalel Smotrich on Thursday announced plans to advance tenders for the construction of over 3,000 housing units in the contentious E1 settlement area, located between Jerusalem and Ma'ale Adumim in the West Bank, The Times of Israel reported.

Smotrich declared that the move would "bury the idea of a Palestinian state", adding that the plan has the backing of Prime Minister Benjamin Netanyahu.

The project has been frozen for decades amid fierce opposition from the international community, who fear the new settlement neighbourhood would prevent the establishment of a contiguous, viable Palestinian state, as per The Times of Israel.

"Approval of construction plans in E1 buries the idea of a P...