An alliance of Adani Ports and Special Economic Zone Ltd and Israel’s Gadot Chemicals Tankers and Terminals Ltd on July 14 won the tender for privatisation of Israel’s Haifa Port.
The two companies will acquire a 100 per cent stake in Haifa Port Co. According to reports, the alliance had bid 4.1 billion shekels (about $ 1.17 billion) to win the contract.
Adani Group chairman Gautam Adani took to Twitter to announce the news.
Delighted to win the tender for privatization of the Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations! Proud to be in Haifa, where Indians led, in 1918, one of the greatest cavalry charges in military history! pic.twitter.com/Bc1xbe8Olc— Gautam Adani (@gautam_adani) July 14, 2022
In January 2020, the Israeli government voted to move forward with privatising Haifa port, with the hope that its new owner would invest some $292 million in upgrading it.
“The privatisation of the port of Haifa will increase competition at the ports and lower the cost of living,’’ Israel finance minister Avigdor Lieberman said.
About 98% of all goods move in and out of Israel over sea and the government has been upgrading the sector to maintain economic growth.
The Port of Haifa is the largest of the country’s three major international seaports.