regular-article-logo Monday, 11 December 2023

Adani-led alliance bags Haifa port project

Media reports in Israel said the alliance had bid about USD 1.1 billion to win the contract

Our Bureau Mumbai Published 15.07.22, 01:21 AM
Haifa port

Haifa port File picture

The Adanis have won a bid to develop Israel’ssecond largest port in Haifa.

An alliance of Adani Ports and Special Economic ZoneLtd and Israel’s Gadot Chemicals Tankers and TerminalsLtd won the bid for Haifa.


The two companies will acquire a 100 per cent stake in Haifa Port Co. Media reports in Israel said the alliance had bid 4.1billion shekels (about $ 1.1 billion) to win the contract.

In January 2020, the Israeli government approved the privatisation of the Haifa port.

The resolution said that the Israeli government’s entire stake in the port will be sold as a unit to a strategic buyer.

"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.

APSEZ has a market capitalisation of Rs 1.53 lakh crore and is the largest port operator in India with six facilities on the west coast and another six on the east.

It is developing a transhipment port at Vizhinjam in Kerala while outside India, the company is in Sri Lanka. APZEZ is developing the west container terminal of the Colombo port.

It received the letter of intent from the Lankan authorities in March 2021. “Great news for #India #Israel alliance. The Adani group won the Haifa port bid,” Naor Gilon, Israel’s ambassador to India tweeted.

Gautam Adani also took to Twitter, to say "delighted to win the tender for the privatization of the Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations!.”

The Port of Haifa is the largest of Israel’s three major international seaports.

“Proud to be in Haifa, where Indians led, in 1918, one of the greatest cavalry charges in military history!,” Adani said in the same tweet.

Follow us on: