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Israel completes sale of Haifa Port for $1.15 bn - Jerusalem News

Jerusalem, Jan 11 (IANS) Israel has finalised the privatisation of Haifa Port, one of the country's leading ports, Israel's Finance Ministry said in a statement.

by Maria Thomas

Updated Jan 10, 2023

Israel completes sale of Haifa Port for $1.15 bn - Jerusalem News

The state-owned Mediterranean port, located in northern Israel, was sold to a group consisting of the Indian giant Adani Ports and Special Economic Zone Limited (Adani Ports & SEZ) and the Israeli company Gadot Chemical Terminals, who jointly won a governmental tender.

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The deal was completed after the Indian-Israeli group received all Israeli government approvals for the deal which is worth 3.97 billion shekels ($1.15 billion), the Ministry said on Tuesday.

Adani Ports & SEZ, headquartered in Ahmedabad, is India's largest commercial port operator which runs nearly one-fourth of the cargo movement in the country, Xinhua news agency reported.

The port privatisation, one of Israel's largest infrastructural and financial projects in the last decade, is part of an overall governmental seaport reform that aims to increase competition, improve service, help importers, and reduce the cost of living.

January 11, 2023 Other Jerusalem

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

Israel completes sale of Haifa Port for $1.15 bn - Jerusalem News

January 11, 2023 Other Jerusalem

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